DisrupTech Ventures, an Egypt-based early-stage venture capital firm focused on fintech, has announced an investment in Chari, the Y Combinator-backed Moroccan fintech startup, marking its first investment in Morocco and second outside Egypt.
The deal also grants DisrupTech a seat on Chari's board of directors, reinforcing its role in guiding the company's regional fintech expansion strategy.
Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari digitizes Morocco's informal retail sector by enabling small merchants to order FMCG products and access embedded financial services through its mobile platform.
The company recently secured a payment institution licence from Bank Al-Maghrib, authorizing it to issue IBANs and debit cards, facilitate domestic and international transfers, and offer micro-insurance.
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Key Takeaways
The investment follows Chari's $12 million Series A round led by SPE Capital and Orange Ventures, with participation from over a dozen international backers. By joining the board, DisrupTech Ventures is betting on Chari's potential to become a cornerstone of Morocco's digital financial infrastructure. With over 20,000 active retailers, Chari is transforming corner shops into micro-financial hubs, providing working capital, digital payments, and insurance in underserved communities. "Chari is redefining how financial services are delivered at the grassroots level," said Mohamed Okasha, Managing Partner at DisrupTech Ventures. "Empowering small shops to act as financial gateways creates the foundation for a new, inclusive fintech infrastructure in Morocco." Chari plans to scale further across Francophone Africa, leveraging DisrupTech's expertise in financial technology and inclusion. This deal cements the Cairo-based VC's growing footprint in Africa's emerging fintech ecosystems beyond Egypt.
