Chari | YC S21 | Ecom and Fintech apps for retailers in Francophone Africa

What Chari | YC S21 | Ecom and Fintech apps for retailers in Francophone Africa does

Chari (Groupe Chari) is a Morocco-based licensed payment institution operating a mobile-first super-app that consolidates everyday financial services for Moroccan consumers and small merchants. The product surface spans an electronic wallet with a Moroccan IBAN, a co-branded Chari Standard Visa debit card (physical and virtual), peer-to-peer money transfers (free between Chari accounts), telecom recharge for Maroc Telecom, Orange and inwi, utility and internet bill payment via the Fatourati national network, digital gift cards and gaming credits (Free Fire, PUBG Mobile, Carry1st), and merchant payment acceptance via QR codes and the chari.pay.ma payment link — all delivered through a single iOS/Android app available in French, formal Arabic and Moroccan Darija. The platform is licensed by Bank Al-Maghrib as an établissement de paiement and was launched following the company's participation in the Y Combinator Summer 2021 batch.

The underlying technology is delivered through ChariBaaS, a Banking-as-a-Service infrastructure layer that handles account issuance, card management, payments processing and regulatory compliance across the consumer product. Cash-in and cash-out are handled through a hybrid distribution network that aggregates the DamaneCash, ChaabiCash and Tasshilate partner agency networks with proprietary Chari Cash merchant agent points, with an in-app locator for nearest point. Chari structures its users into three profiles — Particulier (individual), Commerçant (merchant) and Partenaire (partner) — with tiered volume-based cashback rewarding higher activity. Security relies on Face ID, a 4-digit PIN, and in-app card freeze/opposition controls.

Chari's business model is transaction-fee driven across six streams: fees on bank transfers to external Moroccan RIBs, commissions on telecom recharges, merchant payment processing fees, commissions on Fatourati bill payments, margins on gaming vouchers and gift cards, and fees from the Chari Cash agent network. The individual tier is free; merchant and partner pricing is custom and volume-based. The company does not publicly disclose revenue, funding amounts or a broader investor roster, though it is structured under Groupe Chari with two wholly-owned operating subsidiaries (chari.ma for the consumer app and ChariBaaS for the infrastructure platform). Its official corporate description references 'Ecom and Fintech apps for retailers in Francophone Africa,' signaling stated ambitions beyond the current Morocco-only operating footprint.

Name

Chari | YC S21 | Ecom and Fintech apps for retailers in Francophone Africa

Legal name

Groupe Chari

Website

https://chari.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Chari operates a Morocco-licensed mobile super-app offering IBAN wallets, Visa debit cards, P2P transfers, telecom recharges, bill payments, gaming vouchers and merchant QR acceptance for Moroccan consumers, small shop owners and cash agents.

Ownership category

akta.pro rank

Headquarters

HQ city

Casablanca

HQ country

Morocco

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Peer-to-Peer Transfer Fees (RIB transfers): Free transfers between Chari accounts (Chari-to-Chari at 0 DH). Revenue generated from fees on bank transfers to external Moroccan RIBs, where charges are displayed before validation.
2. Telecom Recharge Commissions: Commission earned on mobile airtime recharges (Maroc Telecom, Orange, inwi). Commissions vary by operator and volume; gain displayed before user confirms.
3. Merchant Payment Processing: Merchants accepting QR, card, Fatourati or RIB payments pay transaction fees. Volume-based pricing with cashback incentives for high-volume merchants.
4. Bill Payment Commission via Fatourati: Commission earned on utility bill payments (water, electricity, telecom, internet) processed through Fatourati integration.
5. Gaming Voucher / Direct Top-Up: Revenue from selling game credits (Free Fire, PUBG Mobile, Carry1st) and gift cards, with margins increasing with volume.
6. Partner / Cash Agent Network Fees: Partners in the Chari Cash network generate revenue through cash-in/cash-out service fees and enhanced cashback on recharge and bill payment transactions.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Chari operates a mobile-first super-app (chari.ma) that combines a Moroccan-IBAN electronic wallet, Chari Standard Visa debit card (physical + virtual), free P2P transfers, telecom recharge, bill payment via Fatourati, gaming credits/gift cards, and merchant payment acceptance via QR code and chari.pay.ma links. It is powered by ChariBaaS proprietary infrastructure and licensed by Bank Al-Maghrib as a payment establishment, with cash-in/cash-out through DamaneCash, ChaabiCash, Tasshilate, and proprietary Chari Cash agent points nationwide.

Product overview

Chari operates a super-app ecosystem centered on chari.ma, a consumer-facing mobile application that provides electronic wallet, Visa card, money transfers, telecom recharge, bill payment, gift cards, gaming credits, and merchant payment services. The platform is powered by ChariBaaS (the company's Banking-as-a-Service infrastructure) and backed by Groupe Chari, a Bank Al-Maghrib licensed payment institution and Y Combinator alumni. The product portfolio includes: chari.ma (consumer super-app), Chari Standard Visa Card (physical/virtual), Portefeuille électronique (IBAN wallet), Transferts d'argent (P2P and bank transfers), Recharge télécom (Maroc Telecom/Orange/inwi top-up), Paiement de factures Fatourati, Cartes-cadeaux & Gaming (Free Fire, PUBG, Carry1st), Paiement marchand (QR/card/payment link acceptance), and Chari Cash (partner cash-in/cash-out network). Merchants can join as Commerçant (merchant) or Partenaire (partner) profiles for enhanced cashback and pricing.

Differentiator

Problem solved

Functional benefit

Brands

• Chari Cash: Network of cash deposit and withdrawal points operated by partner merchants
• ChariBaaS
• Chari Standard Visa

Products and services

• Electronic Wallet with Moroccan IBAN (Portefeuille électronique) Digital wallet with a Moroccan IBAN/RIB/BIC that lets users receive, store, and manage money, receive salary or bank transfers, and fund the account via bank card, cash deposit, bank transfer, payment link, QR code, or Fatourati; available to all Moroccans without a traditional bank account.
• Chari Standard Visa Card (physical + virtual) Visa-branded debit card linked to the electronic wallet, available as contactless physical and instant virtual; usable for online, in-store, and international payments with in-app controls (freeze, oppose, spending limits, masked card number).
• Money Transfers (Chari-to-Chari and to Moroccan RIB) P2P transfers between Chari users at 0 DH and bank transfers to any Moroccan RIB with fees displayed before validation; includes beneficiary address book (with aliases) and transaction purpose categories.
• Telecom Recharge (Maroc Telecom, Orange, inwi) Mobile phone credit top-up for self or others across Maroc Telecom, Orange, and inwi, with cashback/commission displayed before confirmation and activation of Pass Internet options.
• Fatourati Bill Payment Utility and service bill payment via Fatourati covering water (Amendis, Redal, SRM), electricity, telephone, and internet providers across Morocco.
• Gift Cards & Gaming Credits (Direct Top-Up) Instant digital top-up for gaming credits (Free Fire Diamonds, PUBG Mobile UC, Carry1st Gems) and assorted gift cards delivered directly to the user's account, no physical card required.
• Merchant Payment Acceptance (QR, card, Fatourati, RIB) Merchant payment acceptance allowing small retailers to take QR code, card, Fatourati and RIB-based payments and earn volume-based cashback, including the shareable chari.pay.ma link for remote sales via WhatsApp, SMS, or social media.
• chari.pay.ma Payment Links Shareable payment link generated from the chari.ma app for merchants and individuals to collect card or Chari balance payments remotely, ideal for remote sales, deposits, and takeaway orders, with no hardware required.
• Chari Cash Agency Network (cash-in/cash-out) Cash deposit and withdrawal service for Chari users through a nationwide agency network of partner brands (DamaneCash, ChaabiCash, Tasshilate) and proprietary Chari Cash merchant points, with an in-app locator showing nearest agent and distance.
• chari.ma Mobile Super-App Super-app mobile application (iOS and Android) that consolidates the electronic wallet, Visa card, transfers, recharge, bill payment, gift cards and gaming credits, and merchant acceptance into a single interface available in French, Arabic, and Darija.

Quantifiable outcome

• Free P2P transfers between Chari accounts at 0 DH
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature8 records

Partnerships

Ten partnerships are on record, tiered core and supporting.

• Bank Al-MaghribcoreOthersBank Al-Maghrib is Morocco's central bank. Chari (Groupe Chari) is a licensed payment establishment (établissement de paiement) authorized and regulated by Bank Al-Maghrib. This regulatory relationship is the foundational license enabling all of Chari's financial services.
• VisacoreTechnology or IntegrationVisa is the card network partner enabling Chari Standard Visa physical and virtual cards. Cards are accepted at all Visa acceptance points globally, both online and in-store.
• DamaneCashcoreChannel Partner/ Reseller/ DistributorDamaneCash is a cash agency network partner enabling Chari users to deposit and withdraw physical cash across Morocco. Part of the cash-in/cash-out infrastructure.
• ChaabiCashcoreChannel Partner/ Reseller/ DistributorChaabiCash is a cash agency network partner enabling Chari users to deposit and withdraw physical cash across Morocco. Part of the cash-in/cash-out infrastructure.
• TasshilatecoreChannel Partner/ Reseller/ DistributorTasshilate is a proximity cash agency network partner enabling Chari users to deposit and withdraw physical cash across Morocco. Part of the cash-in/cash-out infrastructure.
• FatouraticoreTechnology or IntegrationFatourati is the national bill payment network integrated into chari.ma, enabling payment of water, electricity, telephone, and internet bills across Morocco. Chari acts as a distribution channel for Fatourati bill payments.
• Maroc TelecomsupportingTechnology or IntegrationMaroc Telecom is one of the three Moroccan telecom operators whose airtime recharge is available in the Chari app. Users can recharge Maroc Telecom credit and activate Pass Internet options directly from the app.
• Orange MoroccosupportingTechnology or IntegrationOrange is one of the three Moroccan telecom operators whose airtime recharge is available in the Chari app. Users can recharge Orange credit directly from the app.
• inwisupportingTechnology or Integrationinwi is one of the three Moroccan telecom operators whose airtime recharge is available in the Chari app. Users can recharge inwi credit and access available options directly from the app.
• Carry1stsupportingTechnology or IntegrationCarry1st is the game publisher whose in-game currency (Gems) can be recharged via Direct Top-Up in the Chari app alongside Free Fire and PUBG Mobile.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Wave: Mobile money unicorn operating across Francophone West Africa (Senegal, Côte d'Ivoire, Mali, etc.). Comparable to Chari as a mobile-first, low-fee digital wallet serving unbanked populations in Francophone Africa—a clear regional expansion benchmark for Chari.
• Naps: Mobile money and payment platform based in Senegal serving Francophone West Africa. Comparable super-app model (wallet, transfers, bill pay, merchant payments) targeting the same Francophone African demographic that Chari has stated it wants to serve beyond Morocco.

Direct peers

• Cash Plus: Moroccan payment network offering money transfers, bill payment, and cash services through a large agent network. Operates as a payment institution similar to Chari and serves overlapping customer segments of unbanked individuals and small merchants in Morocco.
• inwi Money: Mobile money service operated by Moroccan telecom operator inwi—one of the three telecoms whose airtime Chari already resells. inwi Money directly competes with Chari for mobile wallet users and merchants, with the advantage of telecom-scale distribution.
• MT Cash (Maroc Telecom): Mobile money service from Maroc Telecom (IAM), Morocco's largest telecom operator. Competes head-on with Chari for digital wallet users and merchant payment acceptance, leveraging Maroc Telecom's dominant market position—Maroc Telecom is also one of the telecoms Chari resells airtime for.
• Orange Money Maroc: Mobile money service from Orange Morocco. Directly competes with Chari's wallet, transfer, and merchant payment offerings, with the structural advantage of being bundled with the Orange mobile subscriber base—one of the three telecoms Chari integrates with for recharge.
• Wafacash: Moroccan cash transfer and payment services company operated by Attijariwafa bank. Offers money transfers, bill payment, and cash-in/cash-out services through a nationwide agency network—directly comparable to Chari's transfer and cash agent services for the Moroccan market.

Emerging players

• Kuda Bank: Nigerian digital-only bank offering mobile-first banking, cards, and transfers to underbanked African consumers. Comparable to Chari in targeting unbanked/underbanked users with a mobile super-app and licensed banking infrastructure, but operating in Nigeria—a larger and more competitive market.
• Paystack: African payment infrastructure company (now part of Stripe) providing online and offline payment processing for African merchants. Comparable to Chari in targeting African merchants with digital payment tools, though Paystack focuses on online commerce and developer APIs versus Chari's retail merchant focus.

Broad incumbents

• M-Pesa (Vodafone / Safaricom): Africa's most successful mobile money platform, operating across multiple African markets with tens of millions of users. A long-term benchmark for the super-app mobile money model that Chari is replicating in Morocco, and a potential strategic partner or acquirer if Chari expands regionally.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gochari

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chari | YC S21 | Ecom and Fintech apps for retailers in Francophone Africa