ORA Technologies, a burgeoning tech startup, has successfully secured $1.5 million in Seed funding, primarily from Moroccan entrepreneurs, marking a significant milestone that underscores the confidence in its potential for expansion and societal impact. This financial boost follows a fruitful pre-seed round raised locally, setting a robust foundation for the company’s growth trajectory.
The ORA Maroc Super App, ORA Technologies’ flagship offering, has garnered over 300,000 downloads, positioning it to become an indispensable tool in the daily lives of Moroccans. The app is a one-stop platform offering a plethora of services ranging from buying and selling goods, engaging in chat conversations, and connecting socially with friends and family, to ordering food delivery. Its user-friendly interface and smooth user experience have been pivotal in achieving this level of integration into the lives of its users.
A highly anticipated addition to the Super App is its forthcoming social fintech feature, which promises to revolutionize the way Moroccans handle money. This feature will allow users to chat and transfer money effortlessly and instantaneously, thanks to a strategic partnership with M2T, a subsidiary of Banque Centrale Populaire. This collaboration not only ensures the security and reliability of financial transactions but also sets the stage for digital payments through a wallet integrated into the app, aiming to diminish the dependence on cash transactions.
Omar Alami, the founder and CEO of ORA Technologies, expressed gratitude for the support from local entrepreneurs and emphasized the company’s mission towards digital and financial inclusion. The goal is to make e-commerce and digital payments accessible to all Moroccans, bridging the divide between traditional and digital commerce and ensuring inclusivity in the digital economy. The app’s marketplace feature is designed to benefit large vendors, small businesses, and service providers by enabling them to access a broader customer base and expand their operations.
Alami also praised his team, highlighting the group of 25 skilled software engineers among the tech and digital professionals at ORA Technologies. Their expertise and commitment have been crucial in establishing ORA Technologies as a leader in Open Innovation, facilitating partnerships with major entities like Retail Holding, Pharma 5, M2T, Banque Centrale Populaire, and others.
The recent funding round is set to accelerate the rollout of ORA’s eagerly anticipated e-wallet feature, which promises to revolutionize the way users conduct monetary transactions by enabling instant transfers. This forthcoming service is made possible through a strategic collaboration with M2T, a subsidiary of Banque Centrale Populaire, underscoring the app’s commitment to providing secure and efficient financial solutions.
