LoftyInc co-leads $4m seed round in Morocco’s WafR
The round marks one of the first investments from the firm's new LoftyInc Alpha Fund.
** For the best experience, download the free Africa Private Equity News app Android | iOS **
LoftyInc Capital has co-led a $4 million oversubscribed seed round in Moroccan fintech WafR, one of the first investments from its newly launched LoftyInc Alpha Fund.
The round was also co-led by Attijariwafa Ventures and Almada Ventures, with participation from returning investors UM6P Ventures and First Circle Capital.
WafR helps small informal traders earn extra money by offering services like airtime purchases, bill payments, and other basic financial services.
“We are proud to co-lead this round and champion WafR’s bold mission,” said Mariam Kamel, partner at LoftyInc Capital. “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.”
“The entry of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures is a pivotal milestone,” said Ismail Bargach, CEO and co-founder of WafR. “Their support brings not just capital but deep fintech experience and strong regional networks that will be instrumental as we scale our impact.”
Want to know who is raising, investing, and exiting in Africa? Get Africa Private Equity News’ monthly Dealmaker’s Log – a database of reported investment deals, exits, and fundraising closes. Subscribe now