# Chari

> Chari is a Moroccan B2B e-commerce and fintech company that turned the country's corner grocery stores into digital customers. Through one app, the traditional shopkeepers who form the backbone of North African retail can order fast-moving consumer goods and get them delivered in under 24 hours, keep their customer credit ledgers, accept card payments, pay bills, and tap embedded financial services. Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari was the first Moroccan startup admitted to Y Combinator (S21). In October 2025 it raised a $12M Series A - the largest in Morocco's history - and became the first VC-backed Moroccan company to win a payment institution license from the central bank, the foundation for its Banking-as-a-Service platform.

- **Founded:** 2020
- **Headquarters:** Bouskoura, Casablanca-Settat, Morocco
- **Founders:** Ismael Belkhayat (Co-Founder & CEO), Sophia Alj (Co-Founder & COO)
- **Team size:** ~65 employees
- **Products:** Chari Merchant Super App, Karny, Payments & POS, Insurance & bill payments, Banking-as-a-Service (BaaS) platform
- **Notable:** First Moroccan startup admitted to Y Combinator (S21)., First VC-backed Moroccan company to receive a payment institution license from Bank Al-Maghrib (2025)., Raised the largest Series A in Morocco's history at $12M (October 2025).

## Products & services

- **Chari Merchant Super App** — A single mobile app where shopkeepers order fast-moving consumer goods (groceries, household items) and receive delivery in under 24 hours, plus manage payments, balances, and supplier transfers.
- **Karny** — A digital credit ledger / bookkeeping app (acquired 2021) that lets shopkeepers track the informal customer credit they extend - the digital version of the notebook behind the counter.
- **Payments & POS** — Point-of-sale terminals and an online payment gateway, plus bill payments, mobile top-ups, and money transfers offered to merchants and their end customers.
- **Insurance & bill payments** — In-app sale of micro-insurance and utility bill payment services layered onto the merchant relationship.
- **Banking-as-a-Service (BaaS) platform** — API-based infrastructure with in-house KYC, compliance, and card-issuing modules that lets other fintechs, e-commerce platforms, and enterprises embed regulated financial products in Morocco.

## Achievements

- First Moroccan startup admitted to Y Combinator (S21).
- First VC-backed Moroccan company to receive a payment institution license from Bank Al-Maghrib (2025).
- Raised the largest Series A in Morocco's history at $12M (October 2025).
- Digitized 20,000+ traditional retail shops.
- Acquired Karny.ma (2021) and Ivory Coast's Diago (2022) to expand its ledger and geographic footprint.
- Recognized by the UN Secretary-General's Special Advocate for Inclusive Finance for its financial-inclusion work.

## Latest updates

- **2025-10** — Closed a $12M Series A co-led by SPE Capital and Orange Ventures - the largest Series A in Moroccan history.
- **2025-10** — Became the first VC-backed Moroccan startup to obtain a payment institution license from central bank Bank Al-Maghrib, unlocking its full BaaS roadmap.
- **2022-06** — Acquired Diago, an Ivorian FMCG distribution startup, extending into West Africa.
- **2022-01** — Raised a bridge round valuing the company at $100M.
- **2021-10** — Raised $5M seed at a $70M valuation and acquired bookkeeping app Karny.ma.

## Links

- Website: https://chari.com
- LinkedIn: https://www.linkedin.com/company/gochari
- Twitter/X: https://twitter.com/ChariMaroc
- Instagram: https://www.instagram.com/charimaroc
- Facebook: https://www.facebook.com/charimaroc

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Profile page: https://yespress.io/chari-super-app-and-baas-yc-s21
Published by YesPress — https://yespress.io
Last updated: 2026-07-31