Chari.ma (based in Morocco) has raised US$1-million from Orange Digital Ventures in a funding round expected to further expand the startup’s e-commerce operational capabilities. 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 equity stake acquired by Orange Digital Ventures was not disclosed.
Orange Digital Ventures invests in entrepreneurs from around the world whose ambition is to imagine, design and develop tomorrow’s services and technologies. The company ranks among the major venture capital firms in Europe and Africa with a fund size of €150 million.