Morocco-based B2B e-commerce startup, Chari, has secured $1 million in funding from Orange Ventures as part of its latest funding round. The platform, founded in 2020 by husband and wife team Ismael and Sophia Belkhayat, allows traditional proximity store owners in Morocco to order products and have them delivered.
Since its launch, Chari has onboarded over 20,000 food businesses in Morocco and has expanded into Tunisia and Ivory Coast. As a participant in the Y Combinator S21 batch, the company raised a $5 million seed round in late 2021 and secured additional investment in January 2022. With the latest investment from Orange Ventures, Chari has now raised a total of $6 million.
Ismael Belkhayat, co-founder and CEO of Chari, expressed his excitement about the investment from Orange Ventures. "Being supported by Orange Ventures since the beginning of our quest is a source of pride for us. The Orange group’s distribution know-how and skills are extremely beneficial to us. We intend to grow into the nations in which Orange operates," he said.
Grégoire de Padirac, a partner of Orange Ventures Middle East and Africa, is joining Chari's supervisory board. "We are delighted to have been among the first investors in the Chari adventure," said de Padirac. "We look forward to continuing to support the team as it expands into the French-speaking region and the fintech sector."
The investment from Orange Ventures is a testament to Chari's potential to digitize local company owners and bring about positive change in the e-commerce industry in Morocco and
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