ORA Technologies, a Morocco-based superapp, has successfully raised $1.9 million in a pre-Series A funding round led by local investment firms Witamax and Azur Innovation Management. This latest investment brings the company's total funding to $4.4 million since its launch in 2023, demonstrating the growing confidence in its mission to expand digital and financial services across Morocco.
The new funding highlights the increasing support from domestic investors for Moroccan tech startups, paving the way for innovative solutions in the financial and digital service sectors. With the backing from Witamax and Azur Innovation Fund, ORA Technologies is poised to accelerate the growth of its financial services platform, ORA Cash, alongside its e-commerce and service marketplace, KooulMaroc.
A Multi-Service Superapp for Morocco
Founded in 2023 by Omar Alami, ORA Technologies offers a comprehensive mobile application that integrates multiple services into a single platform. The app provides users with peer-to-peer (P2P) transactions, an e-commerce marketplace, on-demand services, chat functionality, social networking, and a digital wallet, simplifying access to essential digital tools.
The company's mobile wallet solution, ORA Cash, allows users to send and receive money instantly, make digital payments via QR codes, and manage financial transactions through an intuitive interface. The platform supports five languages, including Darija, Morocco's local dialect, ensuring accessibility for a wide range of users.
ORA Technologies aims to expand access to digital payments for both consumers and merchants, effectively bridging gaps in financial inclusion.
Scaling Financial and Digital Services
With the newly secured capital, ORA Technologies plans to enhance KooulMaroc's market reach and further develop ORA Cash. The company's strategy aligns with Morocco's broader efforts to encourage digital payments and transition towards a cashless economy.
Since its launch, ORA Technologies has experienced strong user adoption, with over 300,000 downloads, indicating a clear demand for integrated financial and digital services. The company views this funding round as a critical step in strengthening its contribution to Morocco's digital transformation.
By integrating e-commerce, fintech, and on-demand services, ORA Technologies is working to reshape how Moroccans interact with digital platforms. With support from Witamax and Azur Innovation Fund, the company is dedicated to expanding its services, enhancing financial access, and setting new standards for fair employment in the gig economy.
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