Morocco’s ORA Technologies raised $1.5 M Seed funding from Moroccan entrepreneurs
ORA Technologies secured $1.5 million in Seed funding from Moroccan businesspeople, demonstrating strong faith in the company’s potential for growth and impact, building on the strong foundation given by a prosperous pre-seed round locally.
Offering a multitude of services on a single platform, the app has over 300,000 downloads to date and hopes to become a vital part of Moroccans’ everyday lives.
With the ORA Maroc Super App’s user-friendly interface and seamless experience, users can do everything from buying and selling goods to having chat conversations, socializing with friends and family, and ordering takeout.
A strategic partnership with M2T, a subsidiary of Banque Centrale Populaire, will soon enable users to chat and transfer money instantly, a social fintech feature that will revolutionize Morocco’s digital financial landscape. The Super App is expected to launch soon.
In addition to guaranteeing the safety and dependability of financial transactions, this partnership opens the door for digital payments via a wallet that is integrated into the app, which will further streamline operations and lessen the need for cash.
“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 Omar Alami, ORA Technologies founder and CEO. Adding: “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.
He added: “Thanks to our team of tech and digital professionals, including a talented group of 25 software engineers, ORA Technologies became rapidly an Open Innovation champion whose expertise and dedication drive partnerships with large groups such as Retail Holding, Pharma 5, M2T, Banque Centrale Populaire, and others.”
