Egypt-based venture capital firm DisrupTech Ventures has announced its investment in Chari, a Y Combinator–backed Moroccan fintech startup transforming the informal retail sector into a digital financial ecosystem. This marks DisrupTech’s first investment in Morocco and second in Africa outside Egypt, reflecting its growing commitment to fintech innovation across the continent.
Empowering Morocco’s Retail Sector Through Fintech
Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari has developed a licensed fintech platform that enables small retailers to order FMCG products while also providing embedded financial services such as digital payments, working capital, and micro-insurance.
Backed by a payment institution licence from Bank Al-Maghrib, Chari can now issue IBANs and debit cards, process domestic and international transfers, and extend its services across Morocco’s rapidly growing digital economy.
Transforming Informal Economies
Beyond its e-commerce foundation, Chari’s model focuses on digitizing cash-based transactions and integrating fintech into local commerce. By turning neighbourhood shops into financial access points, Chari bridges the gap between traditional retail and modern financial inclusion, empowering micro-entrepreneurs and consumers alike.
“Our investment in Chari is a milestone for DisrupTech,” said Mohamed Okasha, Managing Partner at DisrupTech Ventures. “By empowering small shops to act as financial gateways, Chari is building the foundation of an inclusive fintech infrastructure in Morocco — precisely the kind of transformative model we aim to scale across Africa.”
Scaling Across Francophone Africa
With over 20,000 retailers already onboarded, Chari is rapidly expanding its footprint across Francophone Africa. The company recently closed a $12 million Series A round led by SPE Capital and Orange Ventures, with participation from more than a dozen international investors.
“With DisrupTech’s support, we’re accelerating our mission to turn every corner shop into a financial access point,” said Ismael Belkhayat, CEO and Co-Founder of Chari. “Together, we’ll continue driving technologies that foster financial inclusion and economic growth across Africa.”
As part of the deal, DisrupTech Ventures will join Chari’s board of directors, working closely with its leadership team to strengthen governance, accelerate regional expansion, and advance its fintech-driven growth vision.
