YORA Technologies, a Moroccan super app, has recently secured $1.9 million in a pre-Series A funding round, with local investment firms Witamax and Azur Innovation Fund leading the investment. This funding marks a significant milestone for YORA Technologies, bringing their total capital raised to $4.4 million since their inception in 2023.
Founded by entrepreneur Omar Alami, YORA Technologies offers a comprehensive platform that combines various services such as peer-to-peer transactions, e-commerce, on-demand services, chat functionality, and social networking. The company’s mission is to promote digital and financial inclusion in Morocco by providing accessible and user-friendly digital solutions to the local population.
The newly acquired funds will be utilized to expand Kooul, YORA’s rapidly growing food delivery service, which has already established a presence in six cities within a span of just five months. Additionally, the investment will accelerate the development of YORA Cash, a digital payment and money transfer solution that enables users to create an IBAN account in under 40 seconds using only a phone number.
This latest round of funding reflects the growing confidence of local investors in YORA Technologies’ potential to transform Morocco’s digital landscape. The company’s holistic approach aligns with the Moroccan government’s initiatives to drive financial inclusion and transition towards a cashless economy, positioning YORA Technologies as a key player in the country’s digital transformation.
With this fresh injection of capital, YORA Technologies is poised to further enhance its offerings, empowering individuals financially and setting new standards for the gig economy in Morocco.
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Source: TechGist Africa
