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Morocco’s ORA Secures $1.5 Million in Seed Funding

Ora technologies

ORA Technologies has successfully secured $1.5 million in Seed funding from Moroccan entrepreneurs, demonstrating their strong belief in the company’s growth and impact potential.

The ORA Maroc Super App, with its impressive 300,000+ downloads, aims to be an essential daily tool for Moroccans by offering a comprehensive suite of services on a single platform. This includes facilitating the purchase and sale of goods, enabling chat conversations, social connections with friends and family, and food delivery services, all delivered through an easy-to-use interface that ensures a smooth user experience.

Anticipation is building within the Moroccan tech community for the Super App’s upcoming social fintech feature, which will revolutionize the way users chat and transfer money. This innovation is made possible through a strategic collaboration with M2T, a subsidiary of Banque Centrale Populaire, enhancing the security and efficiency of financial transactions. Furthermore, this partnership is set to introduce a digital wallet feature, promoting a shift towards digital payments and reducing the dependency on cash transactions.

Omar Alami, the founder and CEO of ORA Technologies, expressed gratitude for the local entrepreneurial support that has been crucial in advancing this ambitious digital and financial inclusion project. He emphasized the company’s goal to democratize e-commerce and digital payment solutions across Morocco, aiming to bridge the gap between traditional and contemporary commerce practices while promoting accessibility and inclusiveness in the digital marketplace. This initiative is not only beneficial for large vendors and small businesses by providing them access to a broader customer base through the app’s marketplace feature but also reinforces ORA Technologies’ position as a leading entity in Open Innovation. The company’s success is attributed to its skilled team, including 25 software engineers, whose expertise and commitment have fostered partnerships with major entities like Retail Holding, Pharma 5, M2T, Banque Centrale Populaire, among others.

Also Read: A Look into Africa’s Startup Funding Landscape with Efayomi Carr From Flourish Ventures

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Editor at TechArena. I cover all things technology and review new gadgets as I get them. You can reach me on email: kaluka@techarena.co.ke
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