Moroccan e-Commerce startup Chari.ma raises funding, Acquires Mobile Credit platform

Moroccan B2B e-commerce startup Chari.ma, has announced it closed a round of funding and the acquisition of mobile credit book application Karny.ma.

The funding was secured from Plug and Play to scale its services, having also secured capital from the Orange Ventures seed challenge in 2020

Charo.ma was founded in 2020 by husband and wife team Ismael and Sophia Belkhayat, with the aim of enabling traditional proximity store owners in Morocco to order products and have them delivered.

Chari.ma works with more than 50 per cent of the proximity stores in Casablanca, and has been working on international expansion.

Karny.ma on the other hand is a phone-based credit book app that allows traditional convenience stores to manage loans given to their customers.

Through its platform, Kathy.ma users can record their transactions on their phone, share them with their debtors and thus more easily collect their loans.

Karny.ma claims it has 15,000 monthly active grocery stores using it across Morocco.

Ismael Belkhayat founder Chari.ma speaking on the development said: “Karny.ma users are the right target for Chari. We believe there can be many synergies between the two apps and we want to grow both in parallel with the end goal of starting to offer financial services to all of our customers”.