Grace Ashiru
YORA Technologies, a Moroccan super app, has successfully raised $1.9 million in a pre-Series A funding round, with local investment firms Witamax and Azur Innovation Fund leading the investment. This new funding brings ORA Technologies’ total capital raised since its launch in 2023 to $4.4 million.
Founded by Omar Alami, ORA Technologies offers an all-encompassing platform that integrates services such as peer-to-peer transactions, e-commerce, on-demand services, chat functionality, and social networking. The company’s goal is to foster digital and financial inclusion in Morocco by providing easy-to-use, accessible digital solutions.
The newly secured funds will be allocated towards scaling Kooul, ORA’s fast-growing food delivery service, which has expanded to six cities within just five months. Additionally, the investment will speed up the development of ORA Cash, a digital payment and money transfer solution that allows users to create an IBAN account in just 40 seconds using only a phone number.
This latest funding round highlights increasing local investor confidence in ORA Technologies’ potential to reshape Morocco’s digital landscape. The company’s integrated approach supports the Moroccan government’s efforts to promote financial inclusion and a cashless economy, positioning ORA Technologies as a key player in the country’s digital transformation.
With this new investment, ORA Technologies is poised to further enhance its offerings, driving financial empowerment and setting new benchmarks for the gig economy in Morocco.
YORA Technologies, a Moroccan super app, has successfully raised $1.9 million in a pre-Series A funding round, with local investment firms Witamax and Azur Innovation Fund leading the investment. This new funding brings ORA Technologies’ total capital raised since its launch in 2023 to $4.4 million.
Founded by Omar Alami, ORA Technologies offers an all-encompassing platform that integrates services such as peer-to-peer transactions, e-commerce, on-demand services, chat functionality, and social networking. The company’s goal is to foster digital and financial inclusion in Morocco by providing easy-to-use, accessible digital solutions.
The newly secured funds will be allocated towards scaling Kooul, ORA’s fast-growing food delivery service, which has expanded to six cities within just five months. Additionally, the investment will speed up the development of ORA Cash, a digital payment and money transfer solution that allows users to create an IBAN account in just 40 seconds using only a phone number.
This latest funding round highlights increasing local investor confidence in ORA Technologies’ potential to reshape Morocco’s digital landscape. The company’s integrated approach supports the Moroccan government’s efforts to promote financial inclusion and a cashless economy, positioning ORA Technologies as a key player in the country’s digital transformation.
With this new investment, ORA Technologies is poised to further enhance its offerings, driving financial empowerment and setting new benchmarks for the gig economy in Morocco.
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