WafR, an app that allows retail brands to broadcast smart promotions to grocers in order to improve their market share on the traditional channel, has said that it has raised $455k in addition to the previous $620k.
WafR’s goal is to provide the finest support possible to retail brands. This additional funding will help the Moroccan business to grow its personnel and extend its network of partner retailers.
WafR is currently worth $9 million as a result of this fundraising round. Launch Africa Ventures, a famous pan-African venture capital fund located in South Africa, First Circle Capital, WeLoveBuzz, and other business angels contributed to the money.
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“We are very pleased with the collection of investors we were able to obtain in this new investment round and are proud of WafR’s excellent growth over the previous 12 months,” said WafR co-founder Ismail Bargach.
These funds will be utilized to support the startup’s growth, but more crucially, to accomplish its aspirations in terms of expanding its grocer network. WafR currently has 20,000 grocery partners and aspires to achieve 50,000 in total, assisting its FMCG customers in delivering smart promotions that would allow them to improve their market share.
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This funding will also enable WafR to grow its staff by recruiting a late co-founder, allowing it to expedite its commercial efforts.
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. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh