WafR, a Moroccan tech startup that allows companies and grocers to send smart promotions, has raised $1 Million in a seed round.
Launch Africa Ventures is a prominent pan-African venture fund that was based out of South Africa. First Circle Capital and WeLoveBuzz were also involved in the financing round.
Following this round of funding, WafR’s current value is $9 million.
WafR, an FMCG business platform founded in 2018 by Reda Sellak & Ismail Bargach, allows FMCG businesses discounts to their platform in hopes of increasing sales.
“We are very pleased with the collection of investors we were able to obtain in this new investment round, and we are proud of WafR’s remarkable growth over the previous 12 months,” said WafR co-founder Ismail Bargach.
WafR currently has 20000 grocery partners, and plans to increase that number to 50 000 in the near-future. The company assists its FMCG customers with smart promotions that will grow their market share.
WafR will have the opportunity to increase its workforce by hiring a co-founder who has died. This funding will also allow WafR to accelerate its commercial activities.
This new financing will allow it to expand its network and hire more people.
This funding will also be utilized to support the startup’s growth, but most crucially, to help it achieve its goals of growing its grocery network.