Participated · Series A · Oct 2025

Founded in 2020 by husband-and-wife team Ismael and Sophia Belkhayat, Chari began as a mobile marketplace enabling corner shops to procure fast-moving consumer goods directly from distributors. The company has since evolved toward a banking-as-a-service model, using its recently obtained payment-institution licence from Bank Al-Maghrib to embed digital payments, credit, and other financial tools inside its merchant app. More than 20,000 small retailers across Morocco, Tunisia, and Côte d’Ivoire now use Chari’s platform, making it one of the region’s largest informal-retail digitisation plays. With a “super app” approach, Chari aims to transform these mom-and-pop stores into grassroots financial access points for underbanked communities. Future plans include opening its in-house financial rails to third-party developers, positioning the startup as a regional fintech enabler across Francophone Africa. To date, Chari has raised roughly $17 million in venture funding, which supports both its commerce logistics operations and the build-out of its fintech infrastructure.

Participated · Series A · Oct 2024

Dastgyr is a demand-led B2B marketplace launched in 2020 that connects retailers with suppliers, manufacturers and wholesalers to enable wholesale ordering and next-day delivery. The platform offers a sellers app for product uploads, pricing and purchase orders while buyers use the marketplace to order inventory. Dastgyr expanded beyond FMCG into electronics, pharmaceuticals, industrial goods, raw materials and construction materials. It uses a cross-docking, asset-light fulfilment model to move goods quickly and offers Shariah-compliant lending services for largely unbanked or underbanked sellers and buyers. The company targets Pakistan’s ~2 million SMBs and the broader SMB market opportunity cited at around $150 billion in value. Following the raise, Dastgyr plans further geographic expansion and to broaden fintech offerings while investing in technology and people.

Participated · Seed · May 2024

Maad is a B2B e-commerce startup based in Senegal that operates an end-to-end distribution platform enabling informal retailers to source FMCG directly from partner suppliers. Customers place orders via a call center, field agents, or the app (which accounts for 75% of orders), and Maad fulfills orders from its warehouses using an in-house delivery service. The company serves 6,500 active retailers through a network of 80 suppliers and reports a monthly GMV of $3 million. Maad began in 2020 as a data-collection provider before pivoting to distribution software and launching its B2B e-commerce business in September 2021. It plans to expand coverage to remote areas within Senegal, enter a Francophone market by year-end, and introduce a buy-now-pay-later service to enable shop owners to access inventory on credit. Maad emphasizes owning logistics to reduce costs and ensure service reliability for low-margin FMCG distribution.

Participated · Seed · May 2024

Renda offers an asset-light, end-to-end fulfillment platform that aggregates warehousing, inventory management, order processing, deliveries, returns and cash-on-delivery reconciliation for businesses. The company partners with third-party warehousing, delivery and payment providers rather than owning assets, and runs partner verification and management via apps and dashboards. Since launching in 2021 it has onboarded over 300 warehousing partners, 3,000+ delivery assets and 2,000+ cash collection partners, processed more than 250,000 orders and served over 500 businesses and 100,000 customers across 15 Nigerian states. Renda says it has achieved profitability and reported 450% year-on-year revenue growth. It serves clients including OmniRetail, Jumia, M-KOPA and Dangote and targets enterprise contracts of 12–24 months. Planned product moves include embedded finance for drivers, health insurance and fuel assistance, plus AI tools to automate processes and optimize logistics.

Participated · Series A · Apr 2024

goFlux provides a SaaS platform that digitizes the entire logistics process for agricultural road freight, handling quoting, negotiating, contracting and carrier payments. The company pairs logistics management with fintech services to facilitate access to financing for underbanked SME carriers. goFlux is focused on agri-freight across Brazil and Latin America and was founded in 2018. Planned product work includes goFlux View, a predictive-intelligence solution integrated into its contracting platform, and investments in AI for freight prediction. The company will use the Series A proceeds to expand its salesforce, strengthen fintech capabilities, and improve platform functionality, security, and compliance. goFlux aims to streamline freight operations and enhance productivity for shippers and carriers. GoFlux provides a digital freight platform that enables shippers and carriers to handle quotes, negotiations, contracting, documentation, fleet management and real-time monitoring. The platform can convert a carrier’s receivables into same-day payment and offers prepayment credit in conjunction with Banco Rendimento. GoFlux plans to structure its own FIDC by the end of the year to diversify financing sources for users. The company aims to transact $500 million in freight in 2021 (about 1.3% of the Brazilian market) and to double that volume in 2022. Founded in 2018 and based in São Paulo, GoFlux operated with a bootstrap mentality until this round. The startup positions itself as a network connecting large agriculture companies to transport companies, rather than an app for hiring individual drivers. It intends to use new funding to enhance its financial offerings and expand market reach, and to build tools and contracts to help companies protect freight and manage positions.