WafR is a retail technology startup based in Morocco that enables businesses to increase their market share by broadcasting intelligent promotions to grocers, has successfully raised a $1million seed round in its recent funding round.
WeLoveBuzz, First Circle Capital, and other angel investors, as well as the well-known south African-based pan-African venture capital fund, Launch Africa Ventures, made contributions during the funding.
Following the conclusion of this funding round, the company is now worth $9 million.
Ismail Bargach with Reda Sellak launched the tech company WafR in 2018, enabling companies that sell fast-moving consumer goods to reduce prices in their marketplace to attract more customers.
WafR co-founder Ismail Bargach said they were delighted with the group of investors they could get for the new investment, and we are impressed about WafR’s phenomenal growth in the past year.”
WafR grocery partners are presently twenty thousand, and it plans to increase that number to fifty thousand in the not-too-distant future. This will allow WafR to aid its FMCG clients in delivering strategic promotions that will assist them in growing their market share.
As a direct result of receiving this seed fund, It would be in a position to expand its team by hiring a late co-founder, thereby enabling the company to speed up its commercial endeavors.
With the help of the new funding, it will be able to grow its team of employees while also expanding its network of grocery store partners.
The fund realized will not only be used to assist in the growth of the startup, but more importantly, it will assist the company in achieving its target Of expanding its grocery distribution network.