Chari Secures Additional Funding to Expand Fintech Solutions for Informal Retailers in Africa

Moroccan startup Chari, a Y Combinator-backed B2B e-commerce platform, has successfully attracted further investment from DisrupTech Ventures, an early-stage venture capital firm based in Egypt. This funding is part of an extension to Chari’s ongoing Series A round, with the exact amount undisclosed.

Building on a Strong Series A Foundation

Earlier in October, Chari closed a $12 million Series A round led by SPE Capital and Orange Ventures. The round also saw contributions from notable investors such as Verod-Kepple, Plug and Play, Global Founders Capital, Endeavor Catalyst, and several regional funds. DisrupTech Ventures’ recent injection not only extends this round but also brings valuable fintech expertise to Chari’s board, enhancing its strategic direction.

DisrupTech’s Growing Footprint Across Africa

This investment marks DisrupTech’s inaugural venture into Morocco and its second outside Egypt, following a six-figure investment in Nigerian agrifintech startup Winich Farms earlier this year. The Cairo-based fund is increasingly focused on startups that digitize informal retail sectors and bolster fintech infrastructure, aiming to improve financial inclusion at the grassroots level across Africa.

Chari’s Evolution: From E-Commerce to Banking-as-a-Service

Founded in 2020 by the entrepreneurial duo Ismael and Sophia Belkhayat, Chari empowers traditional neighborhood retailers by enabling them to order fast-moving consumer goods (FMCG) directly from distributors with ease and speed. The platform has successfully onboarded over 20,000 small retailers spanning Morocco, Tunisia, and Côte d’Ivoire.

With a recent payment institution license granted by Morocco’s central bank, Bank Al-Maghrib, Chari is now developing a comprehensive super app designed to assist small shop owners in managing digital payments, accessing credit facilities, and conducting customer transactions seamlessly. This initiative aims to transform informal retail outlets into vital financial access points for underserved communities.

Driving Financial Inclusion Through Local Retailers

“Chari is revolutionizing the delivery of financial services at the grassroots level,” stated Mohamed Okasha, managing partner at DisrupTech Ventures. “By enabling small shops to serve as financial gateways, Chari is laying the groundwork for a more inclusive fintech ecosystem in Morocco.”

Chari’s CEO, Ismael Belkhayat, emphasized the strategic value of the partnership with DisrupTech: “Our collaboration will accelerate the digitization of informal retail across Francophone Africa, integrating financial access into everyday commerce.”

Looking Ahead: Expanding Regional Fintech Capabilities

With this latest funding round, Chari’s total capital raised reaches approximately $17 million, positioning it among the most well-funded startups in Morocco. Beyond its core e-commerce operations, the company plans to open its proprietary financial infrastructure to third-party developers and partners, aiming to become a key fintech enabler across the region.