DisrupTech Ventures, an early-stage venture capital firm based in Egypt and specializing in fintech, has officially announced its investment in Chari. Chari, a Moroccan fintech startup backed by Y Combinator, focuses on digitizing the informal retail sector. This strategic investment marks DisrupTech Ventures' inaugural venture into Morocco and its second outside of Egypt, signifying a significant expansion of its regional influence.

As part of the agreement, DisrupTech Ventures will gain a seat on Chari’s board of directors. This board position underscores DisrupTech’s commitment to actively guide Chari’s ambitious regional fintech expansion strategy, particularly within Francophone Africa. The investment follows Chari's successful $12 million Series A funding round, which was led by SPE Capital and Orange Ventures and included participation from over a dozen international backers.

Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari has been instrumental in transforming Morocco's informal retail landscape. Its innovative mobile platform enables small merchants to efficiently order Fast-Moving Consumer Goods (FMCG) and access crucial embedded financial services. Chari recently secured a pivotal payment institution licence from Bank Al-Maghrib, a regulatory approval that permits the startup to issue International Bank Account Numbers (IBANs) and debit cards, facilitate both domestic and international transfers, and offer micro-insurance solutions.

With a network of over 20,000 active retailers, Chari is effectively converting traditional corner shops into vital micro-financial hubs. These hubs provide essential services such as working capital, digital payment solutions, and insurance to underserved communities, thereby fostering financial inclusion at the grassroots level. Mohamed Okasha, Managing Partner at DisrupTech Ventures, emphasized this impact, stating, "Chari is redefining how financial services are delivered at the grassroots level. Empowering small shops to act as financial gateways creates the foundation for a new, inclusive fintech infrastructure in Morocco."

DisrupTech Ventures is banking on Chari’s considerable potential to become a cornerstone of Morocco’s burgeoning digital financial infrastructure. Chari’s future plans include further scaling its operations across Francophone Africa, a goal that will be significantly bolstered by DisrupTech’s specialized expertise in financial technology and inclusive financial services. This latest deal firmly cements the Cairo-based VC’s growing footprint within Africa’s dynamic and emerging fintech ecosystems, extending its reach beyond its home market of Egypt.