Orange Ventures, the venture capital arm of Orange, has just invested one million dollars as part of Chari’s latest round of financing. Grégoire de Padirac, Partner of Orange Ventures Middle East & Africa joins Chari’s Supervisory Board on this occasion.
“We are very happy to have been one of the first investors in the Chari adventure and to continue to support the team in its expansion in the French-speaking area and in the fintech field. We and Chari are convinced of the importance of digitizing local business entrepreneurs,” says Grégoire de Padirac.
As a reminder, Chari had won the Middle East Africa Seed Challenge organized by Orange Ventures in 2021 and in which more than 500 technological startups from numerous countries such as Morocco, Tunisia, Egypt, Senegal, Cameroon, Ivory Coast or Jordan.
“It is a source of pride to be supported by Orange Ventures since the start of our adventure. The know-how and expertise of the Orange group in the field of distribution are of great help to us. We aim to expand into the countries where Orange operates,” says Ismael Belkhayat, co-founder and CEO of Chari.
As a reminder, Chari was founded in January 2020 by the duo Ismael Belkhayat and Sophia Alj and was accelerated within the family holding HnS Invest Holding which supports start-ups in distribution and logistics. Chari aims to revolutionize the way local shops get their supplies.
It provides them with a mobile application allowing them to order in a few clicks all the products they need for their point of sale with a free delivery commitment in less than 24 hours. The application has already attracted more than twenty thousand grocery stores in the main cities of the kingdom.