LEndeavor Catalyst’s investment is part of Chari’s Serie-A fundraising. This fundraising will allow the Moroccan startup to consolidate its continental expansion and begin its shift towards fintech by financing the acquisition of the company Axa Credit, subject to obtaining the agreement of the central bank.
“It’s a good sign to see that renowned foreign investment funds are interested in Moroccan startups; this bodes well for a rapid take-off of the Moroccan startup scene. It is a privilege to welcome Endeavor Catalyst among our investors, which thus joins other investors such as Y Combinator, Orange, Rocket Internet or even the management fund of Harvard University”, underlined Ismael Belkhayat, co-founder and CEO of Chari.
Endeavor Catalyst has already invested in more than fifty unicorns around the world including Glovo, Flutterwave, Brex, Cabify or Checkout.com, etc.
The Endeavor network had already selected Chari at the beginning of 2022 in its list of Outliers companies, the 10% of Endeavor companies having the strongest growth and the strongest impact on their communities.
As a reminder, Chari is an e-Commerce application for local grocery stores in French-speaking African countries. It allows them to stock up on consumer products and take advantage of payment terms.
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