Moroccan retail-tech startup WafR, which helps retail brands to deliver promotions to grocers, has closed a seed round worth US$1.075 million as it bids to expand its operations and grow its team.
Founded in 2021, WafR is an app that enables retail brands to broadcast and deliver smart promotions to grocers in order to increase their market share in the traditional channel.
Disrupt Africa reported in April the startup had secured investment, and it has now increased the size of its seed round to more than US$1 million, valuing it at US$9 million. The funding was raised from Launch Africa Ventures, First Circle Capital, WeLoveBuzz and other business angels.
WafR will use the capital to expand its network of partner grocers and grow its team. Currently, the startup has 20,000 grocery partners, and it aims to reach a total of 50,000, helping its FMCG customers to deliver smart promotions that enable them to increase their market share. It also wants to add a co-founder and accelerate its commercial activities.
“We are very pleased with the group of investors we were able to secure in this new funding round and are proud of the strong growth experienced by WafR over the past 12 months,” said Ismail Bargach, co-founder of WafR.
Source: disrupt-africa.com
