Tuesday February 27th, 2024
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Moroccan Customer Loyalty Startup WafR Hits $3M in Valuation

The new milestone comes after a raise of $372K.

Startup Scene

After raising $40,000 during Moroccan television show ‘Who Will Invest in My Project’, fintech WafR has capped their latest funding round at $372,000 from a group of investors, raising their current value to three million dollars.

The Moroccan startup is a reward-based loyalty programme that allows users to earn phone recharges and other discounts while shopping through their app. WafR’s business model works on economies of scale and user retention, assisting brands to reach their target audience and support users with immediate rewards based on their shopping activity.

85% of sales in Morocco are accounted for by retail shops, with supermarkets at the other 15%. Acting as a loyalty solution for large retailers, the two-year-old startup aids manufacturers in increasing market share, sales volume, and profit by guiding consumer choice.