New Delhi, Oct. 17 -- Moroccan fintech and e-commerce startup Chari led fundraising activity in the Middle East and North Africa (MENA) region, securing an eight-figure growth-stage investment from leading investors in the region.

Other startups raising early-stage capital included Egyptian AI platform Nanovate, Tunisian fintech and insurtech firm PAYDAY, and UAE-based legaltech company Oqood.

Nanovate

Cairo-based AI startup Nanovate raised $2 million in a pre-seed round led by a group of angel investors.

Founded in early 2025 by Nancy Madbouly and Ahmed Gamal, Nanovate develops end-to-end Arabic AI solutions, including chat and voice agents, automation systems, and a no-code Arabic AI deployment dashboard powered by its proprietary LLMs.

Backed by MINT Incubator, EG Bank, and Raya FutureTECH Accelerator, the startup plans to expand into Saudi Arabia and the UAE, strengthen CRM and ERP integrations, and invest further in AI R&D and team growth.

PAYDAY

Tunisian fintech and insurtech startup PAYDAY raised pre-seed funding led by UGFS North Africa. The round, which valued the company at $3 million, also saw participation from TALYS Group and BioProtection SA.

Founded in 2024 by Mohamed Anouar Gadhoum and Shaher Abbas, PAYDAY connects insurers, banks, and employers to provide financial solutions for low- and middle-income workers.

The company is expanding into a financial and insurance aggregator, integrating banks, microfinance institutions, and insurers to serve both businesses and individuals directly.

Chari

Morocco-based fintech and e-commerce startup Chari raised $12 million in a Series A round led by SPE Capital and Orange Ventures. The round also saw participation from over a dozen global investors, including Verod-Kepple, Global Founders Capital, Endeavor Catalyst, and Plug and Play.

With this round, Chari's total funding stands at $17 million.

Founded in 2020 by Ismael Belkhayat and Sophia Alj, Chari enables small retailers to order FMCG products and access embedded financial services.

Recently, Chari obtained a payment institution license from Bank Al-Maghrib, Morocco's central bank, allowing it to offer a full suite of financial services to its network of grocery stores, shop owners, and SMEs.

Oqood

UAE-based legaltech startup Oqood secured $1 million in seed funding from a group of angel investors.

Founded in 2024 by Khaled Al Rasheed, Oqood develops AI-driven legal solutions to streamline workflows and improve efficiency for law firms and corporate legal teams. Oqood aims to automate repetitive processes, simplify documentation, and enhance communication between clients and lawyers.

The startup will use the funding to expand across the GCC and accelerate AI product development.

Published by HT Digital Content Services with permission from VC Circle.