AI
Saudi Arabia
UAE
EgyptORA Technologies Secures $1.9 Million in Pre-Series A Funding to Expand Financial Services Platform
2 min
ORA Technologies raised $1,9 million in its Pre-Series A round, led by Witamax and Azur Innovation Management .
The company has now secured a total of $4,4 million in local funding since its inception .
ORA's platform integrates various digital services, including P2P transactions, e-commerce, and a digital wallet .
Founder Omar Alami envisions Morocco as Africa's next tech hub, fueled by strong infrastructure and a growing digital economy .
The funding will enable the startup to expand its products and services while supporting financial inclusion efforts in Morocco.
ORA Technologies, a promising Moroccan startup, has successfully closed a $1.9 million Pre-Series A funding round, marking a significant milestone in its growth. The round was led by prominent investors Witamax and Azur Innovation Management. With this new investment, the company has now raised a total of $4.4 million in local funding since its founding in 2023, making it the most funded Moroccan startup in terms of local capital.
ORA Technologies aims to simplify digital transactions and improve financial accessibility for Moroccan consumers by integrating a variety of services into one platform. Their offering includes peer-to-peer (P2P) transaction services, an e-commerce platform, on-demand services, a social networking feature, and a digital wallet, all designed to streamline everyday financial activities.
Founder Omar Alami expressed his belief that Morocco is on track to become Africa's next tech hub, citing the country's solid infrastructure, stable currency, and a large consumer market of over 40 million people. Alami also highlighted the rising wave of tech entrepreneurs in Morocco, backed by a substantial government-led initiative to promote digital and financial inclusion across the country.
With this latest round of funding, ORA Technologies plans to scale up its operations, expand its service offerings, and continue driving financial inclusion efforts throughout Morocco. The company is positioning itself as a leader in Morocco’s growing digital economy, and its innovative approach is already gaining attention from investors and users alike.
