Morocco’s WafR Raises $4 Million in Seed Funding Led by LoftyInc Alpha - إنت عربي

Morocco-based fintech WafR has raised $4 million in a seed funding round led by LoftyInc Alpha, with participation from Attijariwafa Ventures and Almada Ventures and continued backing from existing investors UM6P Ventures and First Circle Capital. The financing — the first investment by the newly launched LoftyInc Alpha fund — will be directed at expanding WafR’s digital payments footprint across Morocco, leveraging its network of neighborhood merchants to broaden financial services to underserved communities.

Direct quote

“This investment supports our collaboration with WafR to expand access to essential financial services for thousands of underserved Moroccans, which is exactly the type of impact we aim to scale across Africa,” said Maryam Kamel, Partner at LoftyInc Capital.

Ismail Barkach, CEO and co-founder of WafR, added: “The addition of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures marks a pivotal milestone in our journey. Their support goes beyond capital, bringing deep fintech expertise and strong regional networks that will be critical as we scale our impact.”

Context and details

• WafR operates a network of approximately 20,000 active merchants across Morocco, converting small neighborhood shops into distribution points for financial services.
• The startup currently offers digitised services such as airtime top‑ups and bill payments, and has plans to expand into peer‑to‑peer transfers and nationwide remittance services.
• LoftyInc Alpha’s investment thesis targets the so‑called “graduation gap” — later‑stage seed and Series A companies that have demonstrated operational traction but face limited access to growth capital.
• The $4 million round included strategic regional backers: Attijariwafa Ventures and Almada Ventures joined the lead investor, LoftyInc Alpha, while UM6P Ventures and First Circle Capital remained on the cap table.
• LoftyInc Alpha describes its role as bridging the financing shortfall that prevents high‑potential African startups from scaling beyond early stages by providing follow‑on capital and regional networks.

Outlook

The infusion of capital positions WafR to accelerate product rollout and merchant onboarding across Morocco, with a clear focus on turning informal retail outlets into gateways for basic digital financial services. By prioritising airtime top‑ups and bill payments initially, WafR can deepen transactional activity at its merchant locations before rolling out more complex offerings such as peer‑to‑peer transfers and remittances.

For LoftyInc Alpha, the deal represents a strategic first deployment of its new fund and a signal of intent to back growth‑stage fintechs across Africa that combine offline distribution networks with digital payments technology. For WafR, the investors’ combined operational experience and regional ties are expected to support scaling efforts and partnerships critical to expanding financial inclusion across Morocco.