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Home Funding

Chari, a B2B e-commerce firm in Morocco, receives $1 million from Orange Ventures

Tech Gist Africa by Tech Gist Africa
02/21/2023
in Funding, Middle East and Africa, News - Middle East And North Africa
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Chari Morocco

Chari Morocco

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Chari, a business-to-business (B2B) e-commerce startup based in Morocco that offers embedded financing for the fast-moving consumer goods (FMCG) industry, has just raised $1 million. 

The additional US$1 million in funding was provided by Orange Ventures, the venture capital investment arm of Orange, an existing investor in the business. 

Ismael and Sophia Belkhayat, a husband and wife partnership, founded Chari in 2020 to make it possible for Moroccan proximity store owners to order things and have them delivered. 

“We are proud to say that Orange Ventures has backed us from the start of our mission. We greatly benefit from the distribution expertise and capabilities of the Orange group. Ismael Belkhayat, co-founder and CEO of Chari, stated that we wanted to expand into the countries where Orange operates. 

The supervisory board of Chari will now include Grégoire de Padirac, a partner with Orange Ventures Middle East and Africa. 

“We are honored to have been one of the pioneering investors in the Chari adventure. We look forward to continuing to support the team as it develops into the French-speaking region and the fintech sector. “Chari and I think it’s important to digitize small business owners,” de Padirac stated. 

With success in Morocco, the platform has moved to Tunisia and Ivory Coast, where it now serves over 20,000 food businesses.

 

Read more on Tech Gist Africa:

SmartProf, an edtech business in Morocco, has raised $110,000 in a pre-Seed round

MaxAB, an Egyptian eCommerce platform, has received a $15 million Series A funding round and has acquired Morocco-based WaystoCap

Yodawy, an Egyptian digital healthcare startup, has raised $16 million in a Series B funding round

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Tech Gist Africa

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Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

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