FUNDING | Moroccan Fintech, ORA Technologies, Secures $1.9 million to Expand P2P Payments After Surpassing 300,000 Downloads in Just 2 Years

Moroccan startup, ORA Technologies, has raised $1.9 million in a pre-Series A funding round, with local investment firms,

• Witamax and
• Azur Innovation Management

leading the investment.

ORA Technologies has now raised a total of $4.4 million since its launch in 2023, highlighting the growing confidence of local investors in its potential to advance digital and financial inclusion in Morocco.

With Witamax and Azur Innovation Fund now onboard, ORA Technologies is set to accelerate the expansion of its offerings, including its financial services platform, ORA Cash, as well as the growth of its e-commerce and service marketplace, KooulMaroc.

Founded by Omar Alami in 2023, ORA Technologies has created a mobile application that combines:

• Peer-to-peer (P2P) transactions
• e-Commerce
• On-demand services
• Chat features
• Social networking, and
• A digital wallet.

The startup’s mission is to streamline digital transactions and improve financial accessibility for Moroccan consumers by unifying multiple services into a single platform.

The newly secured funding will be used to expand food delivery service KooulMaroc’s market reach and scale ORA Cash, the company’s mobile wallet solution.

ORA Cash enables users to:

• Make instant money transfers
• Process digital payments via QR codes, and
• Manage financial transactions

through a user-friendly interface available in five languages, including Darija, Morocco’s local dialect.

“This fundraising comes at a time where all eyes are on Morocco.

Our country is the very next tech hub in Africa, benefiting from solid macro fundamentals, a stable currency, a deep consuming market of 40 million people and a new wave of smart and competitive tech founders empowered by a huge government-led digital and financial inclusion initiative,” the Founder, Alami, said.

The startup has witnessed swift growth, surpassing 300,000 downloads since its launch, highlighting the strong demand for integrated financial and digital services in Morocco.

Consequently, over the past year, ORA Technologies has consistently attracted investor support. Initially, it secured $1 million in a pre-seed round, followed by a $1.5 million seed round backed by Moroccan entrepreneurs. These early funds were mainly allocated to launching ORA Cash, developed in partnership with M2T, a subsidiary of Banque Centrale Populaire, one of Morocco’s leading financial institutions.

ORA Cash provides users with access to digital financial services that were previously unavailable to many Moroccans, especially underbanked communities. The platform facilitates seamless transactions, utility bill payments, phone top-ups, and cash withdrawals at more than 5,000 partner agencies nationwide.

At the same time, merchants gain from lower transaction costs and an expanded customer base, further solidifying ORA’s impact on Morocco’s digital economy.

“With ORA Cash, we want to build a community of connected users capable of managing their finances with simplicity and modernity,” said Founder, Omar Alami.

“This project, led by a passionate team, represents another step toward building a digital and inclusive Morocco, in line with national financial inclusion ambitions.”