Moroccan B2B e-commerce platform raises $5m at $70m valuation
Shortly after its acquisition of Morocco-based fintech Karny.ma, the B2B e-commerce platform Chari has successfully raised $5 million in its latest funding round.
The seed round was co-led by Rocket Internet, Global Founders Capital and P1 Ventures and recorded participation from new and existing investors including Plug and Play, Y Combinator, Village Capital / MetLife Foundation, Orange Ventures, AirAngels, SPE Capital, Pincus Private Equity, Reflect Ventures and the Chandaria family.
Founded in early 2020 by wife and husband Sophia Alj and Ismael Belkhayat, Chari partners with FMCG multinationals and local manufacturers to distribute their goods to local mom-and-pop shops in less than 24 hours. It also provides payment facilities and financial services through the recent acquisition of Karny.ma.
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