Moroccan technology firm YORA Technologies securing $1.9 million to broaden digital services and foster financial accessibility
Moroccan Super App YORA Technologies Secures $1.9 Million in Pre-Series A Funding
YORA Technologies, a Moroccan super app, has raised $1.9 million in a pre-Series A funding round, according to recent reports. This latest investment, led by Witamax and Azur Innovation Fund, highlights increasing local investor confidence in the startup's potential to reshape Morocco's digital landscape.
Founded by Omar Alami in 2023, YORA Technologies provides an all-encompassing platform with services like peer-to-peer transactions, e-commerce, on-demand services, chat functionality, and social networking. The investment will speed up the development of ORA Cash, a digital payment and money transfer solution that allows users to create an IBAN account in just 40 seconds using only a phone number.
ORA Cash is not the only project benefiting from the newly secured funds. A significant portion of the funds will be used to scale Kooul, ORA's fast-growing food delivery service. Since its launch, Kooul has expanded to six cities within just five months, demonstrating its rapid growth and popularity among Moroccan consumers.
The investment underscores YORA Technologies' potential to reshape Morocco's digital landscape. With this new investment, the startup is poised to further enhance its offerings, driving financial empowerment and digital and financial inclusion in Morocco.
Moreover, the integrated approach of YORA Technologies supports the Moroccan government's efforts to promote financial inclusion and a cashless economy. By providing easy access to digital payment solutions, YORA Technologies is helping to create a more inclusive financial ecosystem in Morocco.
With its innovative approach and commitment to driving digital transformation, YORA Technologies is positioned as a key player in Morocco's digital transformation. The investment in the startup is a testament to the growing confidence in Moroccan tech startups and the potential they hold for reshaping the digital landscape of the country.
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