Deal Street

African Startup Funding Tracker

$616,779,000+

*Data updated daily at 18:00 EAT

Verod-Kepple Africa Ventures Invests USD 1.5 M In Morocco’s Chari
Verod-Kepple Africa Ventures Invests USD 1.5 M In Morocco’s Chari

Verod-Kepple Africa Ventures (“VKAV”) has announced its investment of USD 1.5 M in Chari, a Morocco-based B2B e-commerce company, to support its growth plan. Ryosuke (Rio) Yamawaki, Partner at VKAV, has been appointed as a Strategic Advisor to the company, reinforcing their commitment to transforming the informal retail sector and driving economic growth in the region.

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. The platform has onboarded over 20,000 food businesses in Morocco. It also provides payment facilities and financial services through its acquisition of Karny.ma

The investment will provide the necessary impetus to drive the company’s growth plans and further develop its financial services infrastructure for the masses. The partnership will also enable Chari to continue delivering innovative solutions, propelling Morocco’s economy forward and showcasing the potential of Africa’s informal retail sector on a global scale.