ORA Technologies, a rising star in Morocco’s fintech and retailtech space, has announced the closing of its $7.5 million Series A round, led by Azur Innovation Fund alongside three strategic local investors. This brings ORA’s total local funding to $11.9 million since January 2023 — a record-breaking achievement in the Moroccan startup landscape.
ORA is the driving force behind the “E-Morocco for Everyone” initiative, aimed at democratizing access to e-commerce and digital payments across the country. The company is actively building solutions for Morocco’s booming food delivery and mobile wallet sectors.
Highlights from ORA’s recent growth:
- Kooul, its food delivery app, attracted 15,000+ active users over the past 10 months, offering cost-effective solutions for both consumers and restaurants.
- ORA Cash, a mobile wallet that enables account setup in just 15 seconds and offers free, instant money transfers, has surpassed 50,000 users in just 5 months. It is also digitizing the traditionally cash-heavy last-mile delivery market.
Founder Omar Alami commented:
“This milestone reflects the strong commitment of local investors to our ecosystem. It demonstrates that later-stage funding is possible locally and encourages Moroccan founders to scale from within. ORA represents a truly ‘Made in Morocco’ journey ready for regional and global expansion.”
This announcement also comes amid growing momentum in Morocco’s tech sector, further accelerated by the Fonds Mohammed VI pour l’Investissement, which is helping channel local and international capital into high-potential startups.
