Moroccan RegTech Startup Charikaty Wins $150K Funding on Dragons’ Den-Style Show

A Moroccan Regulatory Technology startup called “Charikaty” has been approved of the sum of MAD 1.5 million (US$150,000) in funding after pitching during Morocco’s leading Dragons’ Den-style investment show titled  “Qui Veut Investir Dans Mon Projet?” Season 3. 

Charikaty is a startup designed to provide digital solutions to provide a seamless business registration, compliance, and administrative procedure for entrepreneurs and companies. Founded by Amr Mouaqit and Driss Sijelmassi, the goal of the company is to ensure successful, technologically advanced solutions for Morocco's typically difficult and costly administrative processes.

The fundraising was supported by prominent investors such as Karim Amor, President of MeM by CGEM, Founder of Epineon.ai, Ilan Benhaim, Co-Founder of the French e-commerce business Veepee and Chairman of Endeavor Morocco. Their support shows that they believe Charikaty has the capacity to grow across Morocco and beyond, especially in helping small businesses scale up and Moroccan that live abroad.

There are over 90,000 recorded new businesses in Morocco yearly, yet there are many startup founders and small firms who face issues as a result of administrative complexity. By integrating this platform, Charikaty will ease the burden as an important facilitator of business establishment and compliance in Morocco.

Charikaty aims at using this funds to establish its information technology stack by growing its business across the country, which is in support of Morocco's "Maroc Digital 2030" strategy. The startup's success highlights the growing interest of investors in RegTech solutions throughout North Africa, where entrepreneurs continue to face difficult obstacles in establishing their businesses and following regulations.