In a groundbreaking development, the Morocco-based B2B e-commerce platform Chari has just secured a jaw-dropping second round of investment from Plug and Play. Although the exact amount remains undisclosed, it's safe to say that it's a game-changer!
Plug and Play's investment in Chari is part of their exciting partnership with the renowned Mohammed VI Polytechnic University and Startgate. This dynamic collaboration has brought forth an extraordinary opportunity to transform Morocco's startup scene.
So, what makes Chari so special? Well, let us unveil the secret! Chari has taken the FMCG (Fast-Moving Consumer Goods) market by storm. Imagine those traditional neighborhood stores—the ones you rely on for everyday necessities. Chari saw an opportunity to revolutionize their operations and restock process, and boy, did they nail it!
Previously, small grocery stores struggled with time-consuming and inefficient stock replenishment through wholesalers and distributors. But not anymore! Chari has come to the rescue with its groundbreaking e-commerce application. Now, retailers can easily order products at lower prices and receive lightning-fast deliveries within just 24 hours. Talk about convenience!
But that's not all—Chari's genius solution also benefits FMCG brands. By partnering with them, Chari provides valuable data to evaluate marketing campaigns and strategies for these brands. This data is essential for understanding and catering to the needs of the final consumers. It's a win-win situation for everyone involved!
Founded in 2020 by the brilliant duo of Ismael Belkhayat and Sophia Alj, Chari has already skyrocketed to the top of the FMCG e-commerce world in Morocco. They're not stopping there, though. With a clear vision to become a regional player, Chari plans to expand its services and capture even more market share. Talk about ambition!
The success of Chari has not gone unnoticed. It has garnered massive support from a prestigious lineup of investors, including the likes of Y Combinator, Rocket Internet, Endeavor Catalyst, Global Founders Capital, Harvard University Management Company, Orange Ventures, and Verod-Kepple. With such impressive backing, Chari is set to continue its extraordinary growth and solidify its position as the African leader in FMCG e-commerce.
Hold on, there's more! Chari recently achieved a remarkable milestone. It became the first VC-backed startup to receive a payment license from the Central Bank of Morocco. This is a testament to Chari's incredible potential and their unwavering dedication to providing innovative solutions.
Get ready, because Chari is here to stay, and it's just getting started! With their unstoppable founders and a league of extraordinary investors by their side, the future looks incredibly bright. We can't wait to witness the revolution they'll bring to the FMCG e-commerce space in Africa.
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