Chari, a Morocco-based B2B e-commerce startup with embedded financing for the FMCG sector, has received funding from UM6P Ventures, the investment fund of Mohammed VI Polytechnic University.
The investment fund of Université Mohammed VI Polytechnique (UM6P), UM6P Ventures, seeks to advance scientific innovation and entrepreneurship in Morocco and Africa. The two funds that UM6P Ventures manages are the Digital Transformation Fund and the Deeptech Projects Fund.
Chari, a Moroccan platform that enables traditional neighborhood store owners to order things and have them delivered, was founded in 2020 by Ismael and Sophia Belkhayat, a husband and wife team.
In addition to growing into Tunisia and the Ivory Coast, the platform has onboarded over 20,000 food businesses in Morocco.
Chari will utilize the funding raised, according to Ismael Belkhayat, to “become a leader in B2B e-commerce with embedded finance.” He went on to say that the firm wants to provide local companies with access to a range of financial services.
Read more on Tech Gist Africa:
Chari, a B2B e-commerce startup in Morocco, has raised $1.5 million
PrestaFreedom, a startup offering home services in Morocco, has secured US$1.1 million in funding
Terraa, a food tech startup based in Morocco, has raised $1.5 million in a pre-seed funding round
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