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    HomeEcosystem NewsLatest FundingMorocco’s ORA Technologies Secures $1.5M Seed Funding to Expand Its Superapp Presence 

    Morocco’s ORA Technologies Secures $1.5M Seed Funding to Expand Its Superapp Presence 

    Ecosystem NewsLatest FundingNORTHERN AFRICA

    Published on

    By Udoh Charles
    Credits: Ora Technologies
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    Morocco-based tech startup ORA Technologies has announced a significant milestone in its journey toward becoming a household name with the securing of $1.5 million in seed funding from local entrepreneurs. Founded in 2023 by Omar Alami, ORA Technologies has quickly made waves in the tech scene with its all-encompassing superapp, offering a wide array of services tailored to the Moroccan market.

    With the recent injection of capital, ORA Technologies aims to further solidify its position in the market by activating its e-wallet feature, enabling users to make instant peer-to-peer transactions. This move comes as a result of a strategic partnership with M2T, a subsidiary of Banque Centrale Populaire, ensuring the security and reliability of financial transactions within the app.

    Since its inception, ORA Technologies has seen considerable growth, with over 300,000 downloads and counting. The app has quickly become an integral part of daily life for Moroccans, offering services ranging from e-commerce and on-demand services to social networking and chat functionality, all within a single platform.

    The latest funding round follows a successful pre-seed round last November, where ORA Technologies secured $1 million from local private investors. This additional capital injection underscores the strong confidence in ORA’s potential for growth and impact within the Moroccan tech ecosystem.

    Founder and CEO Omar Alami expressed gratitude for the support received from local entrepreneurs, emphasizing the company’s mission to provide e-commerce and digital payments to all Moroccans. Alami highlighted ORA’s role in bridging the gap between traditional and modern modes of commerce while ensuring accessibility and inclusivity in the digital economy.

    Alami also credited ORA’s success to its dedicated team of tech professionals, including 25 software engineers, who have been instrumental in driving partnerships with key players in the industry, such as Retail Holding, Pharma 5, M2T, and Banque Centrale Populaire.

    With the e-wallet feature set to launch soon, ORA Technologies is poised to revolutionize the digital financial landscape in Morocco, offering users a seamless and convenient way to manage their finances while contributing to the country’s ongoing digital transformation.

    Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.

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