Founded two years ago, Chari.ma reached a valuation of $100 million last January. The startup is now at the heart of several development projects, backed by big investors.

Sophia Alj (photo, left) and Ismael Belkhayat (photo, right), co-founders of Chari.ma, were crowned "Endeavor Entrepreneurs" during the international jury selection held last January 24-26. The award from Endeavor Global, a global community of high-impact entrepreneurs, is the result of the success of the two recipients' digital shopping service for local merchants. Endeavor Global says the startup has a high potential for development and the founders are willing to commit to sharing their knowledge and experience with other entrepreneurs.

Founded in January 2020, Chari.ma has achieved many successes over the past two years. As of December 2020, it has claimed nearly $2.5 million in order value per month. That same month, Chari.ma won the Middle East Africa Seed Challenge organized by Orange Ventures. The following year, in August, it acquired the mobile credit card application Karny.ma, then raised $5 million in a round led by Rocket Internet, Global Founders, and P1 Ventures in October 2021.

In January 2022, the startup successfully raised another round of funding in a deal led by Khwarizmi Ventures, Air Angels (Airbnb Alumni Investors), and Afri Mobility. Plug and Play, Combinateur Y, Village Capital / MetLife Foundation, Orange Ventures, Air Angels, SPE Capital, Pincus Private Equity, Reflect Ventures, the Chandaria family, Michael Lahyani (CEO and founder of Propertyfinder) also took part. Chari.ma will use the resources to enter the consumer credit segment and further its African expansion.

The new step by Sophia Alj and Ismael Belkhayat paves the way to achieve their ambition. The Endeavor award gives the newly selected entrepreneurs “access to comprehensive, strategic, global support services, including introductions to local and international business mentors, investors, and volunteers from Fortune 500 consulting firms who will help them address key needs,” says Endeavor Global.

This year, Sophia Alj and Ismael Belkhayat are the only two African entrepreneurs out of 12 selected by Endeavor Global in seven markets worldwide, including Vietnam, Morocco, Bulgaria, Brazil, Mexico, the United Arab Emirates, and Jordan.

Muriel Edjo