WafR Secures Oversubscribed $4M Funding Round to Expand Financial Inclusion in Morocco

WafR secures $4 million oversubscribed seed round to scale financial services through Morocco’s hanouts

Moroccan fintech WafR has closed an oversubscribed $4 million seed round co-led by LoftyInc Capital, Attijariwafa Ventures and Almada Ventures, the company confirmed on February 23, 2026. The round — one of the first investments from LoftyInc’s newly launched LoftyInc Alpha Fund — also saw participation from returning investors UM6P Ventures and First Circle Capital. WafR will use the capital to expand a digital distribution model that converts corner stores, or “hanouts”, into financial services access points across Morocco.

“We are proud to co-lead this round and champion WafR’s bold mission. This investment exemplifies our commitment to backing strong founders in high-potential markets who are solving foundational challenges. WafR’s model is unlocking access to essential financial services for thousands of underserved Moroccans—and that’s precisely the kind of impact we seek to scale across Africa.” — Mariam Kamel, Partner, LoftyInc Capital

How WafR’s model works

WafR’s platform digitises everyday transactions at nearly 20,000 active corner stores, turning these merchants into distribution nodes for basic financial services. The startup already processes airtime sales and bill payments through its network and plans to add peer-to-peer transfers and nationwide remittances as it scales.

• Network: nearly 20,000 active hanouts serving as last-mile agents
• Current services: airtime sales and bill payments
• Planned services: peer-to-peer transfers and nationwide remittances

“The entry of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures is a pivotal milestone. Their support brings not just capital but deep fintech experience and strong regional networks that will be instrumental as we scale our impact.” — Ismail Bargach, CEO and Co-founder, WafR

Investor thesis and regional strategy

LoftyInc Capital framed the investment within the thesis of its LoftyInc Alpha Fund, which targets companies at the late-seed and Series A stage to bridge what the firm calls the “graduation gap” that prevents promising African startups from accessing growth capital. LoftyInc highlighted its 13 years of venture experience and a portfolio that includes early bets on Flutterwave and Moove in Nigeria, and Wave in Senegal — and noted it now has four unicorns in its wider portfolio.

For WafR, backing from Attijariwafa Ventures and Almada Ventures adds regional institutional support and local market expertise, while returning investors UM6P Ventures and First Circle Capital maintain continuity with the company’s early backers.

Outlook: scaling operations and product roadmap

With the $4 million infusion, WafR will focus on scaling merchant onboarding, expanding digital payment rails at the hanout level, and rolling out peer-to-peer and remittance capabilities. Management says the combined investor network and LoftyInc’s fintech experience will help accelerate product development and geographic reach within Morocco. The deal positions WafR to deepen financial inclusion by leveraging the country’s dense informal retail network as a bridge to formal financial services.