Superapp ORA Technologies, based in Morocco, has raised US$1.5 million in seed funding from regional business owners to support its growth objectives.
After raising a US$1 million pre-seed round in November of last year, ORA has now secured US$1.5 million in seed funding from Moroccan businesspeople.
Founded by Omar Alami in 2023, ORA is a mobile application with a plethora of functions, such as peer-to-peer transactions, e-commerce, on-demand services, social networking, chat, and soon, a digital wallet.
“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.”
With more than 300,000 downloads to date, the app seeks to integrate seamlessly into Moroccans’ daily lives by providing a multitude of services on a single platform.
With this funding, ORA will be able to launch its e-wallet, which enables users to send money instantly, because of a collaboration with M2T, a Banque Centrale Populaire subsidiary.
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