Moroccan B2B e-commerce startup Chari.ma raises funding, acquires mobile credit platform
Moroccan B2B e-commerce startup Chari.ma raises funding, acquires mobile credit platform
Written by TOM JACKSON
Chari.ma, a B2B e-commerce app allowing traditional proximity store owners in Morocco to order products and have them delivered, has closed a round of funding and announced the acquisition of mobile credit book application Karny.ma.
Founded last year by husband and wife team Ismael and Sophia Belkhayat, Chari.ma works with more than 50 per cent of the proximity stores in Casablanca, and has been working on international expansion.
A participant in the Y Combinator S21 batch, the startup has also secured funding from Plug and Play in order to further expand. This is in addition to capital secured from the Orange Ventures seed challenge late last year.
In addition, it has announced the acquisition of mobile credit book application Karny.ma as it aims to offer more services to its users. Karny.ma is a phone-based credit book app that allows traditional convenience stores to manage loans given to their 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. Founded by two BCG Consultants, Karny.ma already has 15,000 monthly active grocery stores using it across Morocco.
“Karny.ma users are the right target for Chari. We believe there can be many synergies between the two apps and we want to grow both in parallel with the end goal of starting to offer financial services to all of our customers,” said Ismael Belkhayat.
