What's Hot

    Acasia Ventures invests in Nigerian delivery platform Fez

    March 31, 2023

    DP World to develop edible oil terminal in Berbera Port

    March 30, 2023

    HouseAfrica raises USD 400,000 in funding

    March 29, 2023
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      DP World to develop edible oil terminal in Berbera Port

      March 30, 2023

      KarmSolar receives USD 3 million to develop Farafra Solar Grid

      January 11, 2023

      AD Ports Group reports strong growth

      January 3, 2023
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Free trade: Qatar and Morocco conclude second round of talks

      January 31, 2023

      Gold-for-oil: Ghana attempts to address forex pressures

      January 18, 2023

      AD Ports Group reports strong growth

      January 3, 2023
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      South Africa’s Fin acquires Thuthukani

      Banking Business Finance March 24, 2023
      Recent

      South Africa’s Fin acquires Thuthukani

      March 24, 2023

      Fintech dominates African startup funding

      February 15, 2023

      Social investment platform InvestSky raises USD 3.4 million

      January 12, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Business

    WafR raises USD 120,000 from First Circle Capital

    November 10, 20222 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    WafR
    Ismail Bargach, co-founder of WafR.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    WafR enables retail brands to offer smart promotions to grocers and is now valued at USD 10.12 million.

    WafR, a Moroccan application that allows retail brands to deliver smart promotions to grocers has announced that it has received USD 120,000 in funding from First Circle Capital. The company’s promotion system aims to help businesses increase their market share within traditional channels and assists customers in finding deals.

    WafR: The second round of funding

    This is WafR’s second round of funding, with the first occurring in June, the company is now valued at USD 10.12 million. First Circle Capital is a venture capital fund that invests in the next generation of African fintech businesses. First Circle also took part in the June funding round along with WeLoveBuzz and Launch Africa Ventures.

    With both rounds, the company has raised USD 1.2 million this year and plans to invest the raised funds to expand its customer base and reach 50,000 active partner retailers within six months.

    “The crossroads of retail and fintech”

    “At First Circle Capital, we want to support fintechs in Morocco, in particular, and in Africa, in general. After a first investment, we are delighted to announce a new investment of greater size. WafR is uniquely positioned at the crossroads of retail and fintech in Morocco and continues to innovate by providing retail brands with an ever-growing network of partner grocers. Moreover, these small retailers are currently largely dominated by cash payments. After seeing exponential growth in all of the startup’s KPIs and the founding team’s know-how, our conviction was reinforced and we decided to multiply the amount of money we had previously invested by more than 10. At First Circle, we are confident about the future of WafR and look forward to the next few months to see how it evolves in Morocco today and in many other countries tomorrow,” said Selma Ribica, Co-Founder and Managing Partner at First Circle Capital.

    “This new round of financing reflects the ambition of the entire WafR team, which is united around a single objective: to provide the best possible support to retailers and FMCG brands,” concluded Ismail Bargach, co-founder of WafR.

    Last month, investment firm Moroccan venture firm BCME launched a USD 4.5 million fund to foster development within the local startup ecosystem.

    Fintech morocco Retail WafR
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleMasdar and Infinity to develop one of the world’s largest onshore wind projects
    Next Article SANRAL facing scrutiny following awarding of road contracts

    Related Posts

    Business Startups

    Acasia Ventures invests in Nigerian delivery platform Fez

    March 31, 2023
    Business Infrastructure Ports

    DP World to develop edible oil terminal in Berbera Port

    March 30, 2023
    Business Properties Startups

    HouseAfrica raises USD 400,000 in funding

    March 29, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    LATEST STORIES

    Acasia Ventures invests in Nigerian delivery platform Fez

    March 31, 2023

    DP World to develop edible oil terminal in Berbera Port

    March 30, 2023

    HouseAfrica raises USD 400,000 in funding

    March 29, 2023

    Kenyan VC firm Factor[e] Ventures launches venture studio

    March 28, 2023

    Tibu Health closes oversubscribed pre-Series A round

    March 27, 2023
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.