Chari Raises $12M Series A to Build Merchant Super App

BREAKING NEWSOctober 17, 2025 at 9:46 AM UTC

TLDR

Morocco-based fintech and e-commerce startup Chari has secured $12 million in a Series A funding round
Chari lets small retailers order fast-moving consumer goods and access embedded financial services
Chari plans to scale operations while developing two strategic verticals: a super app for merchants and Banking as a Service (BaaS) offerings for businesses and startups

Morocco-based fintech and e-commerce startup Chari has secured $12 million in a Series A funding round. The round was led by SPE Capital and Orange Ventures. Over a dozen other global investors joined, including Verod-Kepple, Global Founders Capital, Endeavor Catalyst, and Plug and Play.

Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari lets small retailers order fast-moving consumer goods and access embedded financial services. The new capital brings its total funding to about $17 million.

Chari earned a payment institution licence from Morocco’s central bank, Bank Al-Maghrib. The licence permits it to issue IBANs and debit cards, handle domestic and cross-border transfers, and offer micro-insurance. With this regulatory backing, the company intends to evolve into a merchant super app. It plans to digitise informal retail and transform corner shops into hubs for financial services.

Going forward, Chari will scale operations while developing two strategic verticals: a super app for merchants and Banking as a Service (BaaS) offerings for businesses and startups.

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Key Takeaways

Chari’s licence marks a shift in Morocco’s fintech landscape. While many startups operate as intermediaries, Chari can now control its payment rail. The move positions it as a full-stack player bridging commerce and finance. Its reach already spans more than 20,000 retailers in Morocco, with expansion into Tunisia and Côte d’Ivoire underway via partnerships. The new capital gives Chari room to build features like embedded credit and loyalty tools, beyond basic payments and product distribution. Competition will intensify. Global fintechs such as Revolut are seeking to enter Morocco through payment licenses. Meanwhile, Chari’s partnership with Visa enables it to integrate broader payment infrastructure and accelerate merchant adoption. In a market where cash still dominates and many merchants lack banking access, Chari’s model aims to convert informal storefronts into digital nodes of commerce and finance — a transition that could reshape how small retail shops operate in North Africa.

Venture Capital

Startups

Chari

Morocco

Fintech