Gwala, a Moroccan FinTech firm, has secured an undisclosed pre-seed round of capital to aid in its growth.
Gwala, a platform created by Mossaab Abaouz last year with the intention of providing an on-demand payment solution for both employees and employers, gives workers immediate access to their earned money.
A number of well-known investors lead the company’s secret pre-seed fundraising round, which will be used to improve the Gwala platform, broaden its appeal, and add new employees to help the business expand in Morocco.
“We’re thrilled to close this pre-seed funding round and to have the support of such a passionate group of investors. This investment will enable us to continue our mission of empowering Moroccans with the financial freedom they deserve and to build the future of work in Morocco,” said Abaouz.