Morocco-based startup Chari has raised $12 million to develop a merchant super app, expanding its fintech and e-commerce services for small retailers across North Africa. The Series A round was led by SPE Capital and Orange Ventures, with participation from Global Founders Capital, Plug and Play, Verod-Kepple, Endeavor Catalyst, Pincus Capital, and Al Khwarizmi Ventures.
Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari began as a B2B platform digitizing how mom-and-pop grocery stores and small retailers order consumer goods from FMCG suppliers. Through its app, merchants can restock inventory, make digital payments, and access financing — with same-day delivery across major cities in Morocco.
The new investment follows Chari’s earlier seed round of $5 million at a $70 million valuation, led by Rocket Internet, Global Founders Capital, and Plug and Play. That round helped the company expand its logistics operations and acquire Karny, a credit management and bookkeeping app used by thousands of neighborhood stores. The acquisition extended Chari’s network to more than 50,000 merchants across Morocco and Tunisia.
