Moroccan Startup Chari Secures USD 1 Mn Funding For Expansion

Chari, a Moroccan B2B e-commerce and fintech startup has received USD 1 Mn (10.9 million MAD) from Endeavor Catalyst, an investment fund that is part of the Endeavor network. The round will help the startup to strengthen its continental expansion and begin its shift to fintech by financing the acquisition of Axa Credit, subject to central bank approval.

Chari is a mobile app that enables small retailers in Morocco and Tunisia to order products from  FMCG multinationals and local manufacturers, receiving them in less than 24 hours.  It also provides payment facilities and financial services through its acquisition of Karny.ma.