Chari, a Morocco-based B2B e-commerce startup with embedded financing for the FMCG sector, has secured investment from UM6P Ventures, the investment fund of Mohammed VI Polytechnic University. In February it raised an additional US$1 million from Orange Ventures, in June it announced follow-on funding from Plug and Play, and in July a further US$1.5 million from Verod-Kepple Africa Ventures (VKAV). It has now banked further capital from UM6P Ventures, the investment fund of Université Mohammed VI Polytechnique (UM6P), aiming to promote entrepreneurship and accelerate scientific innovation in Morocco and Africa. UM6P Ventures operates through two funds – a Deeptech projects fund and a Digital Transformation fund. Ismael Belkhayat said Chari will use the funds raised to “become a leader in B2B e-commerce with embedded finance”.
