Chari, a Moroccan Y Combinator-backed B2B e-commerce startup, has raised an undisclosed amount from DisrupTech Ventures, an Egypt-based early-stage venture capital firm, as part of its Series A extension round.
In October, Chari raised $12 million in a Series A round, led by SPE Capital and Orange Ventures, with participation from Verod-Kepple, Plug and Play, Global Founders Capital, Endeavor Catalyst, and several regional funds. The DisrupTech investment extends that round and brings the Cairo-based fund’s fintech expertise to Chari’s board.
The investment marks DisrupTech’s first in Morocco and its second in Africa outside Egypt, following its six-figure backing of Nigerian agrifintech Winich Farms in June. This underscores the Cairo-based fund’s growing interest in startups digitising informal retail and expanding fintech infrastructure to deepen grassroots access to financial services. For Chari, the additional capital and board partnership will deepen its shift from e-commerce logistics to a banking-as-a-service (BaaS) platform that enables neighbourhood retailers to offer digital payments.
Founded in 2020 by husband-and-wife team Ismael and Sophia Belkhayat, Chari allows traditional store owners to order and receive fast-moving consumer goods (FCMG) directly from distributors. The YC–backed company has onboarded more than 20,000 small retailers across Morocco, Tunisia, and Côte d’Ivoire.
Armed with a payment institution licence from Morocco’s central bank, Bank Al-Maghrib, Chari has been building a super app to help small shopkeepers manage payments, access credit, and handle transactions for their customers. Its broader goal is to transform the country’s network of informal retailers into financial access points for underbanked communities.
“Chari is redefining how financial services are delivered at the grassroots level,” said Mohamed Okasha, managing partner at DisrupTech Ventures. “By empowering small shops to act as financial gateways, Chari is creating the foundation for a new, inclusive fintech infrastructure in Morocco.”
Chari’s CEO Ismael Belkhayat said the partnership with DisrupTech would accelerate the startup’s fintech ambitions.
“Together, we’re building the rails that will digitise informal retail across Francophone Africa and make financial access part of everyday commerce,” he said.
The latest Series A funding brings Chari’s total raise to around $17 million, making it one of Morocco’s most well-funded startups. Beyond e-commerce, the company plans to open its in-house financial infrastructure to third parties, positioning itself as a regional fintech enabler.
