Morocco’s ORA Technologies, a 100% Moroccan tech company, has announced the successful completion of a $1 million pre-seed funding round, which unfolded over the course of 8 months and comprised three investment rounds, all generously backed by private investors. This substantial funding marks a testament to the immense growth potential and strong backing for ORA Maroc, an innovative super app making waves in Morocco.
Established in 2023 by Omar Alami and a team of six visionaries, ORA Technologies has swiftly risen to prominence with the launch of the ORA Maroc app just nine weeks ago, and already it has achieved a significant milestone, amassing 140,000 downloads. This accomplishment solidifies its position as a transformative digital and financial inclusion platform catering to all Moroccans, including those who may be illiterate or part of the diaspora.
The ORA app boasts a diverse array of functionalities, including peer-to-peer transactions, an e-commerce platform, on-demand services, chat features, social networking capabilities, and a forthcoming digital wallet. ORA Technologies is steadfast in its mission to democratize access to e-commerce and digital payment solutions, benefitting customers, vendors, and service providers across Morocco.
read also Afreximbank Partners Morocco on $1billion Trade and Investment Programme
ORA Maroc brings together numerous essential services under one roof, enabling users to engage in chat, purchase and sell goods, facilitate payments, book services, transfer funds, share interests, and even receive directions to various points of interest. What distinguishes ORA Technologies is its exceptional feat of securing $1 million in pre-seed funding within the Moroccan ecosystem, a feat that has attracted considerable attention and interest.
The triumph of ORA Maroc, along with the resounding endorsement from local private investors, underscores ORA Technologies’ unwavering commitment to pioneering inclusive, accessible, and innovative digital solutions for the Moroccan populace. The company eagerly anticipates sustained growth and is dedicated to serving the expanding needs of its user base.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard