LoftyInc Capital, a pan-African enterprise capital agency, has co-led a $4 million seed spherical in Moroccan fintech startup WafR, one of many first investments from its newly launched Alpha Fund, signaling a stronger guess on North Africa.
The spherical was co-led alongside Attijariwafa Ventures and Almada Ventures, with participation from UM6P Ventures and First Circle Capital.
The funding highlights Morocco’s rising profile in Africa’s enterprise panorama; the nation’s startups raised $58 million in 2025, putting seventh on the continent for capital raised. It additionally alerts a broader shift in fintech technique. As capital begins flowing extra intentionally throughout regional boundaries, traders like LoftyInc are backing infrastructure-focused startups that embed monetary companies into casual retail networks.
Based in 2021 to digitise Morocco’s neighbourhood nook shops, identified regionally as hanouts, WafR allows retailers to supply companies corresponding to airtime gross sales and invoice funds by way of a digital platform.
The corporate plans to broaden into peer-to-peer transfers and home remittances, positioning small retailers as monetary entry factors in a market the place casual commerce stays central to day by day life.
“We’re proud to co-lead this spherical and champion WafR’s daring mission,” stated Mariam Kamel, accomplice at LoftyInc Capital. “This funding exemplifies our dedication to backing robust founders in high-potential markets who’re fixing foundational challenges.”
With almost 20,000 nook shops energetic on its platform, WafR is constructing considered one of Morocco’s largest merchant-based fintech networks. The backing of regional traders is anticipated to help additional product enlargement and geographic scale.
“The entry of LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures is a pivotal milestone,” stated Ismail Bargach, WafR’s chief govt and co-founder. “Their help brings not simply capital, however deep fintech expertise and robust regional networks that will probably be instrumental as we scale our affect.”
LoftyInc stated its Alpha Fund focuses on late-seed and Collection A startups which have demonstrated traction however face restricted entry to progress capital, which the agency describes as Africa’s “commencement hole.”
The agency has beforehand backed fintech firms, together with Flutterwave, Moove, and Wave. In North Africa, LoftyInc has additionally backed startups such because the Egyptian AI firm WideBot, in addition to Odiggo and Illa, reflecting its ongoing enlargement within the area.
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