Gwala, a fintech company based in Morocco, has raised an undisclosed amount of money in a pre-seed round led by a group of well-known investors who believe in the company’s goals.
Gwala, founded in 2022, is an innovative fintech startup that offers an on-demand payment solution to Moroccan employees and employers.
Employees in Morocco are paid once a month, which leaves them open to unexpected costs or the need to go into debt to make ends meet. Gwala gives employees real-time access to their wages, so they don’t have to wait until payday.
While assisting its partner firms in providing financial wellness advantages to employees to attract and retain staff, this special platform has revolutionised employees’ access to their pay in the nation.
According to the company, the new money will be used to improve the platform, reach more people, and hire new people to help the company grow and give more workers in Morocco financial freedom.