WafR, an application that allows retail brands to broadcast smart promotions to grocers to increase their market share on the traditional channel, announced that it has raised $455k in addition to the $620k previously raised.
The company’s ambition is to provide the best possible support to retail brands. This new investment will allow the Moroccan startup to expand its network of partner grocers and grow its teams.
Following this funding round, the company is now valued at 9 million dollars.
The funding was raised from Launch Africa Ventures, a prestigious pan-African venture capital fund based in South Africa, First Circle Capital, WeLoveBuzz, and other business angels.
“We are very pleased with the group of investors we were able to secure in this new funding
round and are proud of the strong growth experienced by WafR over the past 12 months,” stated“ Ismail Bargach, co-founder of WafR.
New areas of development for WafR
These funds will be used to support the growth of the startup but also, and most importantly, to
meet its ambitions in terms of expanding its network of grocers. Currently, WafR has 20,000 grocery partners and aims to reach a total of 50,000, helping its FMCG customers to deliver smart promotions that will enable them to increase their market share.
This investment will also allow the company to expand its team by hiring a late co-founder and thereby
to accelerate its commercial activities.