LoftyInc Capital Co-Leads $4 Million Seed Round in Moroccan Fintech WafR
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Johnson Olumide
- February 26, 2026
Pan-African venture capital firm LoftyInc Capital has co-led a $4 million seed round in Moroccan fintech startup WafR.
This marks one of the first investments from its newly launched Alpha Fund and highlights LoftyInc’s growing interest in North Africa as venture activity in the region accelerates.
The seed round was co-led by LoftyInc Capital alongside Attijariwafa Ventures and Almada Ventures, with participation from UM6P Ventures and First Circle Capital. WafR plans to use the funding to expand its product line and deepen its penetration of Morocco’s informal retail sector.
Transforming Neighborhood Shops into Fintech Hubs
Founded in 2021, WafR digitizes Morocco’s neighborhood corner stores, known locally as “hanouts.” The platform allows merchants to offer services such as airtime sales and bill payments, positioning these everyday shops as entry points for financial services.
LoftyInc Capital aims to expand into peer-to-peer transfers and domestic remittances, creating a merchant-led distribution model in a market where informal commerce plays a crucial role.
Morocco’s Growing Appeal to Venture Capitalists
Morocco’s startup ecosystem is becoming increasingly visible. In 2025, startups in the country raised approximately $58 million, ranking seventh in Africa by total capital raised.
This growth reflects a broader shift in venture capital across the continent, as investors seek opportunities in markets with strong fundamentals and underdeveloped financial infrastructure.
Implications for the Future of African Fintech
The investment in WafR underscores a move toward fintech models that are integrated into physical retail networks rather than relying solely on standalone consumer apps.
For investors, this approach provides a way to enhance financial access without depending entirely on smartphone adoption or digital literacy.
It also demonstrates growing confidence in cross-regional capital flows, with West African investors backing infrastructure initiatives in North Africa.
WafR Seen as a Foundational Investment
Mariam Kamel, a partner at LoftyInc Capital, expressed pride in co-leading the funding round, describing WafR as an exemplary case of founders tackling foundational challenges in high-potential markets.
Ismail Bargach, the chief executive and co-founder of WafR, emphasized that the investment brings not only capital but also strategic fintech expertise and regional networks.
Next Steps for WafR as It Grows Its Merchant Network
With nearly 20,000 corner stores already active on its platform, WafR is expected to introduce new services and expand its footprint across Morocco.
Observers will be keen to see how quickly the company can translate its merchant reach into broader financial adoption.
As African venture capital continues to spread across the region, WafR’s funding round signals a growing appetite for fintech infrastructure rooted in local commerce.
For LoftyInc’s Alpha Fund, the investment serves as an early indication of the firm’s strategy to support scalable, market-specific solutions across the continent.
