Moroccan retail-tech startup Chari expands to Ivory Coast with Diago acquisition
Moroccan retail-tech startup Chari has begun its growth into Sub-Saharan Africa with the acquisition of the Ivory-Coast primarily based app Diago.
Based in 2020 by husband and spouse workforce Ismael and Sophia Belkhayat, Chari permits conventional proximity retailer house owners in Morocco to order merchandise and have them delivered. It really works with greater than 50 per cent of the proximity shops in Casablanca, has expanded into Tunisia, and in August introduced the acquisition of cellular credit score e-book software Karny.
A participant within the Y Combinator S21 batch, the corporate raised a US$5 million seed spherical late final yr, and secured additional funding in January. It’s now furthering its growth, shifting into Ivory Coast with the 100 per cent acquisition of Diago, an app that connects neighbourhood retailers to FMCG producers and importers.
Based in 2021 by Amidou Diarra and Ali Ouattara, two former managers at Glovo and PepsiCo, Diago operates solely in Abidjan. Diarra and Outtara will stay CEO and COO, respectively, and oversee native enterprise progress earlier than increasing the app’s footprint to different Sub-Saharan African international locations.
“Diago’s whole workforce will obtain Chari’s full help features. Chari’s Casablanca again workplace will assist the Diago workforce in organising operations, IT instruments and customer support,” mentioned Cyrille Jacques, vp of Chari in control of main worldwide growth.
After a profitable proof of idea in Morocco, Chari goals to grow to be a frontrunner in its house throughout the entire of Francophone Africa.
“The key of a profitable growth is to construct a neighborhood workforce that masters native market dynamics. The true problem is to persuade native entrepreneurs to affix forces with Chari to develop quicker. We proceed to encompass ourselves with younger and impressive entrepreneurs from Francophone Africa to construct collectively a pan-African big of FMCG and monetary companies distribution,” mentioned Ismael Belkhayat, co-founder and CEO of Chari.