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Chari, a Moroccan startup digitizing mom and pop stores, raises $5M at $70M valuation

TechCrunch

Today, a new activity takes us to Morocco, where YC-backed company Chari just raised a $5 million seed round at a valuation of $70million. Rocket Internet, Global Founders Capital and P1 Ventures co-led the round, which is the largest of its kind in Morocco at the moment. “The more we grow, the more we have funding.

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Nigeria’s Curacel raises funding to power insurance offerings and expand into North Africa

TechCrunch

of Africans are insured , which is less than half the global average of 6.3%, making it the least insured continent in the world. It is used by over 100 companies, including banks, fintechs, logistics and e-commerce platforms across eight African markets: Nigeria, Ghana, Kenya, Uganda, Tanzania, Rwanda, Morocco and Egypt.

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Namibian B2B e-commerce retail platform JABU raises $15M led by Tiger Global

TechCrunch

Now, the last-mile distribution e-commerce company has received more investment: a $15 million Series A led by Tiger Global. The round, which closed sometime in March, is Tiger Global’s second investment in the B2B e-commerce space after backing Wasoko in its mega Series B round. Chari offers an identical offering in Morocco.

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MaxAB gets an extra $15M, acquires YC-backed Moroccan startup WaystoCap

TechCrunch

The startup is announcing the acquisition of Morocco-based B2B e-commerce and distribution platform WaystoCap for an undisclosed amount. That business model got WaystoCap into Y Combinator’s Winter batch in 2017, making it the first company accepted from Morocco. The company subsequently raised a $3 million seed round.

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African tech took center stage in 2021

TechCrunch

Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. What’s a record year of funding without some unicorns? From varying sources, it is estimated up to $2 billion went into African tech startups in 2019. billion and $2.8

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Flutterwave and PayPal collaborate to allow African merchants to accept and make payments

TechCrunch

That might be a thing of the past for some businesses as African payments company Flutterwave today is announcing a collaboration with PayPal to allow PayPal customers globally to pay African merchants through its ‘Pay with PayPal’ feature. Going by this partnership, we can expect the majority of them to be global plays.

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Morocco’s Chari valued at $100M in bridge round as it looks to pilot BNPL services

TechCrunch

They join existing investors (Y Combinator, Rocket Internet, Global Founders Capital, Plug n Play, Orange Ventures, Harvard University Management Company, Village Capital and P1 Ventures) who invested in Chari’s $5 million seed round last October at $70 million. But Chari opted not to.

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