Fintech startup Chari.ma raises US$5m for its expansion plan

MOROCCO – Chari.ma, a fintech and e-commerce startup, has raised US$5 million in the largest venture funding round in the country this year and among the biggest-ever seed funding rounds in the North African nation. The funding round was jointly led by Rocket Internet, Global Founders Capital and P1 Ventures with participations from Plug and Play, Y Combinator, Village Capital, MetLife Foundation, Orange Digital Ventures, Air Angels, SPE Capital, Pincus Private Equity and Reflect Ventures. The Chandaria family, Propertyfinder CEO and founder Michael Lahyani, and the management company of an…

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E-commerce startup Chari.ma acquires mobile credit book application: Karny.ma

MOROCCO – Chari.ma, a fintech and e-commerce startup, has announced the acquisition of the mobile credit book application Karny.ma. Karny.ma. latter is a telephone credit book allowing traditional local businesses to manage their outstanding customers. Available on Google Play, the application allows them to simply record their transactions on their phone, share them with their debtors and thus more easily collect their loans. Karny.ma, founded by consultants from the Boston Consulting Group, already has 15,000 customer grocery stores across Morocco. “The users of Karny.ma are right in the target of…

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B2B e-commerce app Chari.ma to expand internationally after positive growth

MOROCCO – Chari.ma, a Business to Business (B2B) e-commerce app allowing traditional proximity store owners in Morocco to order products and have them delivered, has announced plans to expand internationally this year after seeing strong growth in its launch market of Casablanca, reports Disrupt Africa. Launched early 202, Chari.ma has already signed up 10,000 shops as customers, 50 per cent of the proximity stores in the city. Ismael Belkhayat, who co-founded the startup with his wife Sophia, said the startup was targeting a wider opportunity, however. “This is how we…

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