Moroccan legal tech startup Charikaty has successfully secured $162,000 in a significant funding round. The investment was announced during the third season of "Qui Veut Investir Dans Mon Projet?," a popular national investment television show broadcast on 2M. This capital injection will fuel the company's mission to digitize and simplify the complex process of business creation across Morocco, making entrepreneurship more accessible.
Streamlining Entrepreneurship in Morocco
Charikaty was founded by CEO Amr Mouaqit and COO Driss Sijelmassi to address the significant bureaucratic hurdles that entrepreneurs face in Morocco. The traditional process of starting a company involves extensive paperwork and lengthy administrative delays, often discouraging new ventures. The platform aims to transform this cumbersome experience into a seamless and transparent digital journey for aspiring business owners nationwide.
The company offers a comprehensive suite of fully digital services designed to manage the entire business lifecycle. This includes initial legal structuring, document preparation, and official government registration for new companies. Furthermore, Charikaty supports existing businesses with essential services for company modifications, dissolution, trademark registration, and ongoing legal compliance management through its intuitive online platform.
A Strategic Investment for Growth
The funding was provided by two influential figures in the Moroccan business community, Ilan Benhaim and Karim Amor. Benhaim is the co-founder of the European e-commerce giant Veepee and serves as the Chairman of Endeavor Morocco. Amor is the President of MeM by CGEM and the founder of the technology firm Epineon.ai, bringing valuable expertise to the venture.
Both investors committed to backing the startup after a compelling pitch that showcased Charikaty's impressive growth trajectory and significant market potential. The founders effectively communicated their long-term vision for positioning the platform as essential infrastructure for the nation's entrepreneurs. This endorsement from seasoned business leaders validates the company's innovative approach to legal technology and its overall market readiness.
Aligning with National Digital Ambitions
Charikaty's mission is strategically aligned with the Moroccan government's "Maroc Digital 2030" strategy, which aims to accelerate the country's digital transformation. With over 90,000 new companies registered annually, there is a substantial and growing demand for efficient digital solutions. The startup is well-positioned to capitalize on this national push towards modernizing administrative and business processes for a new generation.
The company has already gained recognition within the ecosystem, having recently participated in the first cohort of the Plug and Play & Technopark Morocco Accelerator. This intensive program provided valuable mentorship, workshops, and exposure to a wide network of over 230 investors. CEO Amr Mouaqit also had the opportunity to present the company's vision to Morocco's Minister of Digital Transition and Administration Reform.
Future Plans and Market Expansion
With the new capital, Charikaty plans to execute an ambitious expansion strategy focused on three key areas. The primary objective is to enhance its core technology platform to improve the user experience and introduce new features. This investment will ensure the service remains robust, secure, and scalable as its user base continues to grow across the country.
The funding will also be used to expand the company's operational footprint across Morocco, making its services more accessible nationwide. A significant part of this strategy involves scaling its offerings to better serve small and medium-sized enterprises (SMEs). Additionally, the startup aims to cater specifically to the needs of Moroccans living abroad who wish to invest or start businesses back home.
This $162,000 investment marks a pivotal moment for Charikaty, validating its business model and providing the necessary resources for significant expansion. By tackling a critical pain point for entrepreneurs, the company is not only poised for growth but also contributes to a more dynamic business environment in Morocco. The startup's success underscores the increasing importance of legal tech in fostering economic development and supporting the nation's digital ambitions.