- ORA Technologies Closes Pre-Series A Funding Round with $1.9 Million
- Witamax and Azur Innovation Management Lead the Investment
- Funding Aims to Support Financial Inclusion and Simplify Digital Transactions for Consumers
ORA Technologies has announced the closure of its Pre-Series A funding round, securing $1.9 million, with Witamax and Azur Innovation Management leading the investment.
With this latest funding, the company has raised a total of $4.4 million in local investments since its inception, making it the Moroccan startup with the highest locally sourced funding.
ORA Technologies aims to integrate multiple services into a single platform, streamlining digital transactions and enhancing financial accessibility for Moroccan consumers.
This funding round will provide the necessary resources for the company to expand its products and services while reinforcing its efforts toward financial inclusion in Morocco.
According to Omar El Alami, founder of ORA Technologies, Morocco is poised to become Africa’s next tech hub, benefiting from strong macroeconomic fundamentals, a stable currency, a large consumer market of 40 million people, and a new wave of smart and competitive tech entrepreneurs, all backed by a significant government-led initiative for digital and financial inclusion.
Founded in 2023 by Omar El Alami, ORA Technologies has developed a multi-service digital platform that includes peer-to-peer (P2P) transactions, an e-commerce marketplace, on-demand services, a social networking platform, and a digital wallet.
