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Chari raises $12 million in a Series A round co-led by SPE Capital and Orange Ventures to expand its merchant super app and launch the first Banking-as-a-Service offering in Morocco.
Pincus CapitalEndeavor CatalystPlug And PlayVerod Kepple Africa VenturesOrange VenturesSpe Capital
Description
Chari, a Moroccan B2B e-commerce and fintech startup, has secured $12 million in a Series A funding round. The funds will be used to enhance its platform for small retailers and develop a BaaS offering. The round included participation from several prominent investors. This funding will support the company's expansion efforts and technology development.
Company Information
Company
Chari
Location
Morocco
About
Chari is a YC backed fintech and e-commerce platform founded in 2020 by Ismael Belkhayat and Sophia Alj. It enables retailers to access embedded financial services including payments, micro-insurance, and working capital. Chari also offers a digital marketplace for consumers, primarily serving grocery stores, independent shop owners, retailers, and SMEs. The company has secured a payment institution license from Bank Al-Maghrib, allowing it to provide a full suite of financial services.
Fundz sees it the moment Chari raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
MoroccoFinancial ServicesE CommerceGroceryMarketplaceFintech