Moroccan Superapp ORA Technologies has Raised $7.5 Million in Series A Funding

Moroccan superapp ORA Technologies has raised $7.5 million in Series A funding, marking a major milestone in the country’s tech scene. This fresh capital injection, led by Azur Innovation Fund and joined by three strategic local investors, will help ORA expand its last-mile delivery services and strengthen its digital cash collection system across Morocco.

Founded in 2023 by entrepreneur Omar Alami, ORA Technologies is a versatile superapp that combines several key features in one platform. The app allows users to perform peer-to-peer (P2P) payments, shop on an e-commerce platform, request on-demand services, chat with others, and engage in social networking. ORA also plans to launch a universal mobile wallet called ORA Cash, which is already gaining a strong user base and is key to digitizing Morocco’s substantial cash-on-delivery economy.

Since January 2023, ORA Technologies has raised a total of $11.9 million in local funding, with the latest $7.5 million Series A round being the largest so far. Earlier this year, the startup closed a $1.9 million pre-Series A round, also supported by Azur Innovation Fund and other local investors, reflecting growing confidence in ORA’s business model and growth potential.

ORA Technologies has Raised $7.5 Million in Series A Funding

ORA’s food delivery arm, Kooul, has attracted over 15,000 active customers in just 10 months, showing rapid adoption in Morocco’s urban centers. Meanwhile, ORA Cash has reached more than 50,000 accounts in only five months. The mobile wallet is already being used by delivery riders to digitize cash payments in transactions that traditionally relied on physical money, which is a significant step forward in improving financial inclusion in Morocco.

Omar Alami, CEO of ORA Technologies, expressed pride in this achievement, emphasizing the importance of local investor support in scaling Moroccan startups. He said the funding proves that local funding alternatives exist for later-stage companies and should encourage more Moroccan entrepreneurs to raise capital at home to grow their businesses. According to Alami, the proceeds will be directed towards accelerating their last-mile delivery business and enhancing their digital cash collection infrastructure, which is vital to supporting e-commerce and payment adoption across the country.

ORA Technologies represents a “100 percent Made in Morocco” success story, designed to meet the needs of Moroccan consumers in multiple languages including Darija, French, Arabic, English, and Spanish. This extensive language support enables ORA to serve a wide range of users, spanning both rural and urban areas. ORA’s comprehensive approach, blending commerce, logistics, and financial services into a single superapp, mirrors global models like WeChat or Gojek but is tailored specifically for Morocco’s unique market.

Analysts and investors see ORA’s progress as a sign of maturity in Morocco’s digital ecosystem. The fact that the Series A round was fully backed by local investors highlights rising interest and confidence in homegrown tech ventures. Furthermore, commitments from institutions like the Moroccan Sovereign Fund, Fonds Mohammed VI pour l’Investissement, are fueling additional momentum and attracting further capital to Moroccan startups.

With this new funding, ORA Technologies plans to grow beyond food delivery and mobile payments. The startup is poised to explore growth opportunities both within Morocco and potentially in international markets as it scales its platform. By improving last-mile logistics and building robust digital payment infrastructure, ORA aims to enhance daily life for Moroccans by simplifying access to goods, services, and financial tools in one app.

The announcement that ORA Technologies has raised $7.5 million in funding underscores a major step for Morocco’s tech industry, reflecting a growing local investment ecosystem ready to support ambitious startups. ORA’s blend of e-commerce, on-demand services, and digital financial solutions positions it as a leading player in Morocco’s digital transformation journey.

Was this information useful? Drop a nice comment below. You can also check out other useful contents by following us on X/Twitter @siliconafritech, Instagram @Siliconafricatech, or Facebook @SiliconAfrica.