On Thursday, ORA Technologies, a Moroccan superapp, raised $1.9 million in pre-Series A fundraising backed by Witamax and Azur Innovation Management.
ORA Technologies, founded by Omar Alami in 2023, offers a smartphone app with P2P transactions, e-commerce, on-demand services, chat, social networking, and a digital wallet. The firm combines several services under one platform to simplify digital transactions and improve financial access for Moroccan consumers.
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Since its founding in 2023, ORA Technologies has raised $4.4 million, demonstrating local investors’ rising faith in the startup’s capacity to promote digital and financial inclusion in Morocco.
This investment shows that Moroccan investors are increasingly supporting tech businesses. With Witamax and Azur Innovation Fund as investors, ORA Technologies can accelerate the growth of its financial services platform, ORA Cash, and its e-commerce and service marketplace, KooulMaroc.
New funds drive ORA Technology’s market expansion
KooulMaroc will use the funds it has recently obtained to expand its market reach and grow its mobile wallet service, ORA Cash. Through an easy-to-use interface available in five languages, including Darija, the regional dialect of Morocco, ORA Cash allows users to monitor their financial activities, conduct rapid money transfers, and make digital payments via QR codes.
ORA Technologies’ strategy supports Morocco’s government-led digital transformation project to promote financial inclusion and a cashless economy. With over 300,000 downloads since its introduction, the firm shows high demand for integrated banking and digital services in the country.
ORA Technologies has been financially stable for a year. Moroccan entrepreneurs gave the company $1.5 million after $1 million in pre-seed money. These monies were largely used to launch ORA Cash with M2T, a Banque Centrale Populaire subsidiary.
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Moroccans gain financial access with ORA Cash
ORA Cash provides digital financial services to many Moroccans, especially underbanked ones. We quickly make energy bill payments, phone top-ups, and cash withdrawals at over 5,000 partner agencies nationwide. Merchants profit from lower transaction costs and more customers, boosting ORA’s importance in Morocco’s digital economy.
“With ORA Cash, we want to build a community of connected users capable of managing their finances with simplicity and modernity,” said founder Omar Alami. “This project, led by a passionate team, represents another step toward building a digital and inclusive Morocco, in line with national financial inclusion ambitions.”
The fundraising milestone comes as Morocco is becoming Africa’s digital hub. Morocco’s 40 million people, stable currency, and developing ecosystem of competitive technology entrepreneurs are attracting investors and industry stakeholders.
The country’s digital transformation and fintech-friendly regulations foster firms like ORA Technologies.