Moroccan ORA Technologies Secures $1.5M in Seed Funding to Aid Expansion Plans
Morocco-based superapp ORA Technologies has secured US$1.5 million in seed funding from local entrepreneurs to help with its expansion plans.
Founded in 2023 by Omar Alami, ORA has built a mobile app that offers multiple features, including P2P transactions, an e-commerce platform, on-demand services, chat functionality, social networking, and – soon – a digital wallet.
Having raised a US$1 million pre-seed round last November, ORA has now banked US$1.5 million in seed funding from Moroccan entrepreneurs, which it will use to activate its e-wallet, which allows users to transfer money instantly, thanks to a partnership with M2T, a subsidiary of Banque Centrale Populaire.
With over 300,000 downloads and counting, the app aims to become an integral part of daily life for Moroccans, offering a wide range of services all on one platform.
“This seed round demonstrates the precious and important support we got from local successful entrepreneurs to scale this ambitious project of digital and financial inclusion,” said Alami. “Our mission is clear: to provide e-commerce and digital payments to all Moroccans, bridging the gap between traditional and modern modes of commerce, and ensuring accessibility and inclusivity in the digital economy. Large vendors, small businesses, and service providers also stand to benefit from the app’s marketplace feature, which enables them to reach a wider audience and grow their customer base.”
Source: disruptafrica.com
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