{"id":613,"date":"2025-03-26T08:23:40","date_gmt":"2025-03-26T08:23:40","guid":{"rendered":"https:\/\/www.kili.ventures\/?p=613"},"modified":"2025-03-26T08:23:40","modified_gmt":"2025-03-26T08:23:40","slug":"why-we-invested-in-wafr-transforming-financial-inclusion-in-morocco","status":"publish","type":"post","link":"https:\/\/www.kili.ventures\/index.php\/2025\/03\/26\/why-we-invested-in-wafr-transforming-financial-inclusion-in-morocco\/","title":{"rendered":"Why we Invested in WafR: transforming financial inclusion in Morocco"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">At <strong>Kili Ventures<\/strong>, we seek out bold founders tackling major challenges with scalable, tech-driven solutions. Our first investment in <strong>WafR<\/strong>, a Moroccan fintech, aligns perfectly with our mission: democratizing access to financial services by leveraging the existing network of small merchants.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A Massive Opportunity in an Underserved Market<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Financial inclusion remains a key challenge in Morocco:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>89% of transactions are still made in cash<\/strong> (World Bank Global Findex 2021).<\/li>\n\n\n\n<li><strong>Only 33% of adults have a bank account<\/strong> (IMF Financial Access Survey 2023).<\/li>\n\n\n\n<li>There are just <strong>7,000 financial service providers<\/strong> for a population of 38 million.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">This leaves millions of Moroccans underserved. <strong>WafR\u2019s solution?<\/strong> Transforming <strong>small neighborhood merchants<\/strong> into financial service providers, enabling mobile transactions, money transfers, and top-ups.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>A Proven Business Model with Strong Traction<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Inspired by the success of <strong>M-Pesa in Kenya<\/strong>, WafR is building the foundation for mobile financial services in Morocco. Their numbers are impressive:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>8,500+ active merchants<\/strong> already using the platform.<\/li>\n\n\n\n<li><strong>29% month-over-month growth<\/strong> in adoption.<\/li>\n\n\n\n<li>A <strong>$16.5 billion addressable market<\/strong>, spanning phone top-ups, domestic and international remittances (ANRT &amp; World Bank 2023).<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">With card payments still representing less than <strong>9% of transactions<\/strong> in Morocco, the potential for mobile financial solutions is massive.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Right Team for the Job<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">At the helm of WafR is <strong>Ismail Bargach<\/strong>, a fintech expert with experience leading high-growth ventures like Heetch and Seedstars. His deep understanding of Morocco\u2019s financial ecosystem and his drive to build the country&#8217;s next fintech leader made this an easy investment decision.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Africa\u2019s Fintech Boom \u2013 And What\u2019s Next<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Despite macroeconomic challenges, Africa&#8217;s tech ecosystem remains resilient. In 2024 alone, startups raised <strong>$3.2 billion across 534 deals<\/strong>, with fintech leading the way at <strong>60% of total funding<\/strong> (Partech Africa 2024).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At <strong>Kili Ventures<\/strong>, we believe WafR is positioned to become a leader in Morocco\u2019s digital financial revolution, and we are proud to support their journey. That\u2019s why <strong>we\u2019ve decided to participate in the<\/strong><a href=\"https:\/\/www.startupbusiness.it\/en\/kili-ventures-first-investment-is-in-moroccan-fintech-wafr\/144275\/\"><strong> $1.5m seed round<\/strong><\/a>, supporting the founders.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udd39 If you\u2019re interested in learning more about <strong>WafR<\/strong> or joining <strong>Kili Ventures<\/strong> on future investments, reach out at<a href=\"http:\/\/www.kili.ventures\"> www.kili.ventures<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At Kili Ventures, we seek out bold founders tackling major challenges with scalable, tech-driven solutions. Our first investment in WafR, a Moroccan fintech, aligns perfectly with our mission: democratizing access to financial services by leveraging the existing network of small merchants. A Massive Opportunity in an Underserved Market Financial inclusion remains a key challenge in [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":615,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-613","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Why we Invested in WafR: transforming financial inclusion in Morocco - Kili Ventures<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kili.ventures\/index.php\/2025\/03\/26\/why-we-invested-in-wafr-transforming-financial-inclusion-in-morocco\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why we Invested in WafR: transforming financial inclusion in Morocco - Kili Ventures\" \/>\n<meta property=\"og:description\" content=\"At Kili Ventures, we seek out bold founders tackling major challenges with scalable, tech-driven solutions. 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