Moroccan tech firm Ora Technologies has raised $7.5 million to fuel its ambition of creating a superapp for the country.
In a significant move for Morocco's tech sector, Ora Technologies — a digital platform based in Casablanca — has secured $7.5 million in Series A funding. This investment marks Morocco's largest publicly confirmed Series A in tech this year and signals a growing appetite for scalable tech platforms with nationwide relevance.
Founded in 2023 by Omar Alami, Ora Technologies is Morocco's first fully integrated superapp, aiming to unify multiple digital services into one platform tailored specifically for Moroccan users. The app offers a range of features including:
- Ora Cash: a mobile wallet supporting peer-to-peer transfers, bill payments, QR code purchases, and cash withdrawals at over 5,000 agent locations nationwide. It has amassed over 50,000 accounts in five months and helps digitize Morocco's large cash-on-delivery market.
- Kooul: a food delivery and e-commerce platform, which has attracted over 15,000 active clients in under a year.
- Additional services include messaging, social networking, and marketplace functionalities, all supporting multiple languages such as Moroccan Darija, French, Arabic, English, and Spanish to ensure wide accessibility.
The platform is designed to address digital fragmentation in Morocco by mirroring how Moroccans interact with money, goods, and community, blending cash, technology, and social connections into one ecosystem.
The funding round was led by Azur Innovation Management and joined by three other Moroccan investors. The funds will be used to upgrade Ora's technology infrastructure, accelerate user acquisition, and support expansion into additional regions. Early indicators suggest Ora may further expand into financial services, potentially introducing products like microcredit.
As Morocco advances its digital economy ambitions, platforms like Ora are poised to influence how consumers interact with services ranging from food delivery and finance to e-commerce. The success of Ora Technologies could influence the direction of Morocco's digital economy and the types of investments local and international investors are willing to make in the sector.
In addition, Ora Technologies has expanded its reach among underserved users through partnerships, including one with M2T, a subsidiary of Banque Centrale Populaire. The company's future plans focus on expanding last-mile delivery operations, strengthening and scaling the digital cash collection infrastructure via Ora Cash, promoting digital inclusion, and continuing to foster the "Made in Morocco" technology ecosystem by encouraging more local startup investment and innovation.
With this investment, Ora Technologies stands out as one of the few making an early move in the adoption of the superapp model, which is yet to be widely adopted but could revolutionize the way Moroccans interact digitally. The potential expansion into financial services could make it a significant player in Morocco's digital financial landscape.
Ora Technologies, having secured $7.5 million in Series A funding, is not just revolutionizing Morocco's tech sector, but also its business landscape, as it delves into various domains such as finance (Ora Cash), food delivery (Kooul), and e-commerce. This investment signals a growing interest for scalable tech platforms with nationwide relevance, setting a precedent in Morocco's digital economy. The funds are aimed at upgrading technology infrastructure, accelerating user acquisition, and supporting expansion into additional regions, potentially expanding into financial services like microcredit.
