Morocco's ORA secures $1m pre-seed funding to build super app
ORA Technologies, a Moroccan tech company, has completed a $1 million pre-seed funding, across three rounds, all of which were backed by private investors. This funding will used to further build ORA Maroc, its super-app product which it claims has reached a significant milestone with 140,000 downloads within nine weeks of launch.
The digital and financial inclusion app is aimed at all Moroccans, including individuals who are illiterate and part of the diaspora. The app offers a wide range of features, encompassing peer-to-peer transactions, e-commerce capabilities, on-demand services, chat functionality, social networking, and, in the near future, a digital wallet.
ORA Technologies is dedicated to democratizing access to e-commerce and digital payment solutions for customers, vendors, and service providers throughout Morocco. ORA Maroc consolidates a multitude of essential functions within a single app, similar to a number of super apps launched across Africa in the last couple of years.
Key Takeaways
Following the successes of WeChat and Alipay in China, many startups in Africa have emerged with ambitions to replicate the super app model. These players often start by offering a core service, through which they get a foothold, before adding a variety of other offerings to their customer base. In addition to ORA, Gozem, OPay, Gokada, and SafeBoda are some players currently operating super apps on the continent and their growth suggests consumer appetite for all-in-one services platforms. Digital services in Africa are expanding due to increased smartphone penetration, improving internet connectivity, and a young tech-savvy population. Factors like convenience, accessibility, and financial inclusion drive their adoption. This environment fosters super apps by offering a unified platform for various services, from payments to e-commerce, meeting diverse needs in a single, user-friendly app.
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