ORA Technologies Accelerates Digital Economy Agenda with $1.5M Seed Round

ORA Technologies Accelerates Digital Economy Agenda with $1.5M Seed Round

By Press Release, 14 March 2024

With a solid foundation laid by a successful pre-Seed round locally, ORA Technologies raised $1.5 million in Seed funding from Moroccan entrepreneurs, highlighting strong confidence in its potential for growth and impact.

With over 300,000 downloads and counting, the app aims to become an integral part of daily life for Moroccans, offering a wide range of services all on one platform.

From facilitating buying and selling goods to engaging in chat conversations, connecting socially with friends and family, and ordering food delivery, users can do it all within the ORA Maroc Super App, thanks to its intuitive interface and seamless user experience.

In November 2023, ORA Technologies successfully secured $1 million pre-Seed funding from local private investors. 

The vibrant Moroccan tech scene is also awaiting from the Super App its imminent social fintech feature allowing users to chat and transfer money easily and instantaneously, a game-changer in the digital financial landscape of Morocco, thanks to a strategic partnership with M2T, a subsidiary of Banque Centrale Populaire.

This partnership not only ensures the security and reliability of financial transactions but also paves the way for digital payments using a wallet integrated into the app to further streamline transactions and reduce reliance on cash.

“This Seed round demonstrates the precious and important support we got from local successful entrepreneurs to scale this ambitious project of digital and financial inclusion,” said Omar Alami, ORA Technologies founder and CEO. Adding: “Our mission is clear: to provide e-commerce and digital payments to all Moroccans, bridging the gap between traditional and modern modes of commerce, and ensuring accessibility and inclusivity in the digital economy. Large vendors, small businesses, and service providers also stand to benefit from the app's marketplace feature, which enables them to reach a wider audience and grow their customer base. 

He added: “Thanks to our team of tech and digital professionals, including a talented group of 25 software engineers, ORA Technologies became rapidly an Open Innovation champion whose expertise and dedication drive partnerships with large groups such as Retail Holding, Pharma 5, M2T, Banque Centrale Populaire, and others.”

---

Send us your press releases to shareyournews@lucidityinsights.com

Related Report

Future of Fintech in Africa

The Future of Fintech in Africa

18% of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, living without a bank account or a digital wallet to their Name. The opportunity is massive, which is why fintech is the most dominant and most funded tech sector in Africa, today.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems