Moroccan superapp startup Ora Technologies has acquired Cathedis, a Casablanca-based last-mile delivery specialist, in a move to build an integrated e-commerce and fintech platform. The deal, for an undisclosed sum, comes just months after Ora Technologies raised a Series A funding round in July this year.
The acquisition allows Ora, which operates the mobile wallet Ora Cash and the e-commerce vertical Kooul, to take direct control of a critical part of the logistics chain. For a market where reliable delivery is a key differentiator, owning the last-mile infrastructure could give Ora a significant competitive advantage.
The move is indicative of a maturing Moroccan startup scene, where well-capitalised local players are beginning to consolidate the market through strategic acquisitions.
Why it matters:
- Vertical Integration: By bringing logistics in-house, Ora Technologies aims to create a seamless end-to-end experience for its Kooul e-commerce platform, from digital payment to physical delivery. This strategy mirrors that of major global e-commerce players who control their own logistics to ensure service quality and efficiency.
- Local Consolidation: The deal is a significant all-Moroccan transaction. With both companies founded and primarily funded by local investors, it highlights a growing trend of homegrown capital driving strategic M&A within the North African tech ecosystem.
- A Broader Trend: This acquisition aligns with a pattern across Africa where startups are increasingly using fresh venture funding as a war chest for M&A. Rather than pursuing purely organic growth, companies are buying assets, licenses, and market share to accelerate their expansion.
The Players
Founded by Omar Alami, Ora Technologies aims to become Morocco’s dominant “superapp,” inspired by the success of platforms like WeChat in China. The company raised a $7.5m Series A in July 2025, led by local venture capital firm Azur Innovation Management. This brought its total funding to $11.9m, a notable sum in the Moroccan context. Its core products are:
- Ora Cash: A mobile wallet for peer-to-peer transfers, bill payments, and QR code purchases, developed in partnership with a subsidiary of Banque Centrale Populaire.
- Kooul: A multi-purpose platform for food delivery, e-commerce listings, and other local services.
Cathedis, founded by Imad El Mansour Zekri in 2019, built its reputation on a fully digitised platform for optimising urban delivery. The company has a strong track record of securing local investment, including:
- 2020: Seed funding from CDG Invest’s 212 Founders programme.
- 2023: A $735k pre-Series A round from Afrimobility (the venture arm of AKWA Group) and a bridge from CDG Invest.
- 2024: A $713k Series A led by Fond Capital Venture, BMCE Capital Investments, and Beltone Venture Capital.
At the time of its 2023 fundraise, Cathedis reported growth of over 300% between 2020 and 2022 and served over 700 active clients. It also operates an automated sorting centre with a capacity of 4,000 parcels per hour.
The Road Ahead
While the strategic rationale for the acquisition is clear, Ora Technologies faces significant hurdles.
First is the challenge of integration. Merging the operations, technology, and culture of two distinct companies is a complex task. Online forums already contain user complaints about the user experience on Ora’s Kooul app, and a poorly managed integration could exacerbate these issues.
Second is the competition. The superapp model has struggled to replicate its Asian success in other regions. Ora faces intense competition from established international players like Glovo in the delivery space. However, a recent antitrust settlement by Morocco’s competition authority involving Glovo may create a more favourable market for local competitors.
This acquisition is the latest example of a continent-wide trend. In 2025 alone, several African startups have used new funding for rapid M&A. Fintechs like Stitch and LemFi acquired companies to gain payment infrastructure and licenses in new markets, while Egypt’s Nawy acquired a UAE proptech platform just two months after its Series A. For these companies, venture capital is not just a runway for growth — it’s a catalyst for immediate strategic consolidation.
If Ora can successfully navigate the integration and improve its customer experience, the acquisition of Cathedis could position it as a formidable homegrown challenger in North Africa’s burgeoning digital economy.