Chari, a Y Combinator–backed Moroccan startup that is revolutionizing the country’s retail landscape by transforming traditional stores into a nationwide fintech network, has successfully secured additional funding from Egyptian venture capital firm DisrupTech Ventures.
Founded in 2020 by the husband-and-wife duo Ismael and Sophia Belkhayat, Chari provides a platform for local proximity store owners in Morocco to efficiently order products and have them delivered directly to their shops. Since its inception, the startup has onboarded over 20,000 food businesses across Morocco and has expanded its operations into neighboring countries, including Tunisia and the Ivory Coast.
Beyond simplifying product orders, Chari’s mobile application is actively digitizing financial transactions within Morocco’s largely informal retail economy. By integrating digital payment solutions, instant working capital, and embedded insurance into everyday operations, Chari is reducing merchants’ reliance on cash, enhancing financial transparency, and enabling small retailers to better manage their businesses. This combination of logistics and fintech innovation positions Chari as a key driver of financial inclusion at the grassroots level.
Previously, Chari raised a $12 million Series A round, reflecting its strong capital backing and growth potential. The recent investment from DisrupTech Ventures forms part of a Series A extension, further strengthening Chari’s financial position and enabling the company to accelerate its regional expansion. DisrupTech Ventures, a Cairo-based early-stage VC fund dedicated to supporting visionary founders in fintech and digital infrastructure across Egypt and Africa, will also take a seat on Chari’s board of directors. This partnership is expected to provide strategic guidance and operational support as Chari continues scaling its innovative solutions.
“We are thrilled to have DisrupTech Ventures join us as partners on this exciting journey,” said Ismael Belkhayat, CEO and co-founder of Chari. “Their support will enable us to speed up our mission of transforming every corner shop into a hub of financial access. Together, we aim to build technology-driven solutions that foster financial inclusion and stimulate economic growth throughout Africa.”
Mohamed Okasha, managing partner at DisrupTech Ventures, highlighted the significance of the investment: “Chari is setting a new standard for delivering financial services at the grassroots level. By enabling small shops to operate as financial access points, the company is laying the foundation for an inclusive fintech ecosystem in Morocco. This aligns perfectly with our vision of backing transformative business models that can redefine financial infrastructure across the continent.”
With this latest round of funding, Chari is well-positioned to expand its footprint across Africa, extending its model of digitized retail and financial services to more markets while empowering small business owners to thrive in the evolving digital economy.
