Chari.ma acquires Karny.ma to expand e-commerce and fintech in Morocco

Chari.ma has acquired Karny.ma, a Moroccan fintech app to enable mobile payment transactions for its customers. Chari.ma had raised funding from Plug and Play in order to further expand its online platform. Karny.ma is a mobile credit app that can provide synergy to Chari.ma by expanding into financial services. The acquisition amount was not disclosed.

Chari.ma provides e-commerce facilities that allow local stores to buy products from entrepreneurs in Morocco with a free delivery service that delivers in less than 24 hours. The market is large in Morocco as there are in the region of 200,000 convenience stores selling more than 100 billion Moroccan dirhams of merchandise each year. The acquisition reflects the consolidation taking place in the startup e-commerce and fintech ecosystem in Africa.

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