Moroccan fintech startup Gwala has raised an undisclosed pre-seed funding round to help it scale.
Founded last year by Mossaab Abaouz, with the aim to offer an on-demand payment solution for employees and employers, Gwala enables employees to have instant access to their earned wages.
Its undisclosed pre-seed funding round was led by a group of prominent investors, and will be used to further develop the Gwala platform, expand its reach, and hire new talent to support the company’s growth in Morocco.
“We’re thrilled to close this pre-seed funding round and to have the support of such a passionate group of investors. This investment will enable us to continue our mission of empowering Moroccans with the financial freedom they deserve and to build the future of work in Morocco,” said Abaouz.
