Chari, the YC-backed startup founded in 2020 by husband-and-wife duo Ismael Belkhayat ex-BCG and Sophia Alj ex-McKinsey, has closed a 12M Series A round-the largest Series A ever raised in Morocco. The round was led by SPE Capital and Orange Ventures, with participation from Verod-Kepple, Global Founders Capital, Plug and Play, Endeavor Catalyst, Pincus Capital, Al Khwarizmi Ventures, UM6P Ventures, Axian Group, Uncovered fund, AfriMobility, P1 Ventures, Reflect Ventures, Dragon Capital, MyAsia VC, Harambean prosperity fund and H S Invest holding.
In addition, several high-profile business angels joined the round, including Michael Lahyani Founder of Property Finder and Karim Beguir Founder of InstaDeep. This latest funding brings Chari's total fundraise to 17 million.
A landmark licence from Morocco's Central BankChari has also become the first VC-backed startup in Morocco to be granted a payment institution license by Bank Al-Maghrib, the country's central bank.
