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

WafR, an application that allows mass retail brands to broadcast smart promotions to grocery retailers in order to increase their market share on the traditional channel, announces that it has raised 2.7 million dirhams (USD278,000) with UM6P Ventures, Plug and Play, and several other Moroccan and foreign business angels, following an initial fundraising of 3.5 million dirhams.

With this fresh investment, the Moroccan startup’s valuation has increased to 73 million dirhams (USD7.5 million), more than doubling the previous round’s valuation.

Among the notable investors is Plug and Play, the most active venture capital investor in Silicon Valley, with nearly 300 investments made each year, and which has made notable investments in Dropbox, N26, PayPal, and Flutterwave, the best-valued start-up in Africa, which has recently reached three billion dollars.

This fundraising also included UM6P Ventures, Mohammed 6 Polytechnic University’s (UM6P) venture capital investment fund, whose aim is to foster entrepreneurship and accelerate scientific innovation in Morocco and Africa.

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“We are excited to invest in WafR, a startup with significant growth potential, and to contribute to its growth with the help of the UM6P ecosystem. WafR has benefited from the Plug&Play partner acceleration program, money, and experienced coders and developers from the 1337 school,” Yasser Biaz, Managing Director of UM6P Ventures, said.

“Closing a big investment round in these times of economic uncertainty reflects the promise our investors see in WafR and its ability to innovate in a thriving retail industry,” said WafR co-founder Ismail Bargach.

The funds will be utilized to support the startup’s growth, but more importantly, to accomplish its goals in terms of growing its network of supermarkets.

WafR, which has a network of over 12,000 retailers, aspires to reach 50,000 partner grocery stores in order to enable its FMCG partners to deliver smart promotions and gain market share. 

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“We will continue to make innovative and big sales to serve FMCG distributors and brands,” Ismail Bargach concludes.

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