LoftyInc Capital has co-led a $4 million seed round in Moroccan fintech startup WafR, marking one of the first investments from its newly launched Alpha Fund and signaling a stronger focus on North Africa.
The round was co-led alongside Attijariwafa Ventures and Almada Ventures, with additional participation from UM6P Ventures and First Circle Capital.
Morocco’s startup ecosystem has been gaining attention, raising $58 million in 2025 and ranking seventh on the continent for capital raised. Investors like LoftyInc are increasingly backing fintechs that integrate financial services into informal retail networks, reflecting a regional strategy that goes beyond national borders.
Founded in 2021 to digitize Morocco’s neighborhood corner stores, locally known as hanouts, WafR allows merchants to offer services such as airtime sales and bill payments via a digital platform. The startup plans to expand into peer-to-peer transfers and domestic remittances, positioning small retailers as key financial access points in a country where informal commerce remains central to daily life.
“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.”
With nearly 20,000 corner stores active on its platform, WafR is building one of Morocco’s largest merchant-based fintech networks. The support of regional investors is expected to accelerate both product development and geographic expansion.
“The entry of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures is a pivotal milestone,” said Ismail Bargach, WafR’s CEO and co-founder. “Their backing brings not just capital, but deep fintech experience and strong regional networks that will be instrumental as we scale our impact.”
LoftyInc’s Alpha Fund focuses on late-seed and Series A startups that have demonstrated traction but face limited access to growth capital, a challenge the firm calls Africa’s “graduation gap.”
The firm has previously backed fintechs such as Flutterwave, Moove, and Wave. In North Africa, its portfolio includes the Egyptian AI company WideBot, as well as Odiggo and Illa, underscoring its ongoing expansion across the region.