• Morocco-based superapp ORA Technologies has closed a $1.9 million Pre-Series A funding round led by Witamax & Azur Innovation Fund. 
• Founded in 2023 by Omar Alami, ORA app offers multiple features, including P2P transactions, an e-commerce platform, on-demand services, chat functionality, social networking, and a digital wallet to be launched soon.
• This investment will fuel ORA’s plans to scale its food delivery feature, Kooul, and accelerate its newly launched digital payment and money transfer solution, ORA Cash.
• To date, ORA has raised $4.4 million in investment.

Press release: 

ORA Technologies becomes one of the most locally funded Moroccan startups and announces a $1.9 million Pre-Series A funding round led by Witamax & Azur Innovation Fund. Historically backed by local tycoons, ORA Technologies is welcoming for the very first time VCs in its cap table to reach $4.4 million in funding since the company's inception in 2023. This funding round demonstrates strong confidence from local investors in ORA’s disruptive journey.

In the boiling Moroccan tech ecosystem, ORA Technologies is well-known as the maverick startup aiming to tackle Morocco’s digital and financial inclusion challenges, driving its vision of an e-Morocco for everyone. This investment will fuel the company’s ambitious growth strategy, allowing it to scale Kooul, its fast-growing food delivery platform that has spread rapidly to 6 cities in only 5 months, and accelerate the newly launched ORA Cash, its transformative digital payment & free money transfer solution.

Kooul: Food Delivery for everyone starting from $2.50

Kooul is reshaping Morocco’s booming food delivery market, which is anticipated to reach a TAM of $1.5 billion by 2030, by prioritising efficiency, affordability, and fairness. With affordable and localised food offerings starting from $2.50, Kooul wants to democratise food delivery for everyone in Morocco by providing a Moroccan-built solution tailored for Moroccan needs. Unlike many competitors, Kooul is committed to ensuring better working conditions for its delivery partners, including fair and competitive compensation for riders and high service quality for customers, creating a sustainable and attractive gig economy model. The platform also provides low commission rates for restaurants, enabling them to thrive while benefiting from Kooul’s expanding user base.

ORA Cash: Get an IBAN in 40 seconds

ORA Technologies is at the forefront of financial inclusion in Morocco. Thanks to its very intuitive UX enabling account opening in 40 seconds by only providing a phone number, its chat-based multilingual app (available in 5 languages, including the local Moroccan Darija dialect), ORA Cash is being a game-changer in the country’s fintech landscape. Designed as a social, fast, and cost-effective mobile payment & virtual banking solution, ORA Cash enables seamless digital transactions & free peer-to-peer money transfers, particularly benefiting the unbanked and underbanked populations by connecting them to the financial system. Leveraging the biggest cash-out network in the country with more than 7,000 agencies thanks to its partnership with BCP (Banque Centrale Populaire), Morocco's second-largest retail bank, ORA Cash aims to bridge the gap between traditional banking and digital finance and to empower individuals and businesses with access to modern financial services, accelerating Morocco’s transition toward a cashless economy.

ORA Technologies Founder, Omar Alami, commented on the new funding round, saying, “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. 

ORA Technologies’ vision extends beyond food delivery and digital payments—it aims to digitally transform Morocco’s economy by seamlessly integrating e-commerce, fintech, and on-demand services. This $1.9 million funding round provides us the necessary resources to expand Kooul’s market reach, scale ORA Cash, and continue leading financial inclusion efforts in Morocco. With the backing of Witamax & Azur Innovation Fund, we are poised to shape the future of digital services in Morocco, setting new standards for fair employment in the gig economy and financial empowerment for all.”