In an exciting development for the Moroccan startup ecosystem, Charikaty, a pioneering legaltech company, has successfully secured a pre-seed funding round valuing the firm at €3 million (approximately MAD 32.6 million). This financing round has attracted a diverse group of investors from the Gulf region, marking a significant step in Charikaty's ambition to expand its offerings beyond just company formation to encompass a comprehensive suite of services that support businesses throughout their entire lifecycle.
The funding round boasts notable participants, including Dubai-based Red Tape Ventures, Faris Al-Obaid, who serves as the Vice President and General Manager of Mastercard Kuwait, along with Saudi professional footballer Faris Abdi of Al-Ittihad, as well as other undisclosed investors. This investment is a pivotal moment for co-founders Amr Mouaqit, the CEO, and Driss Sijelmassi, the COO, as they look to broaden their horizons in addressing the needs of entrepreneurs.
According to CEO Amr Mouaqit, Charikaty’s foundational work in company creation has provided invaluable insights into the subsequent needs of entrepreneurs. “Starting with company creation has given us a distinct vantage point to understand what entrepreneurs require as they evolve. Our vision is now broader than just incorporation; we aim to develop services that cater to the entire lifecycle of a business,” he remarked.
To capitalize on this new funding, Charikaty plans to launch two new ventures aimed at enhancing its accounting and compliance offerings, with ambitions to extend its accounting services beyond Morocco into key markets such as Egypt and the Gulf Cooperation Council (GCC) countries.
Expanding Beyond Company Formation
Initially, Charikaty concentrated on the incorporation process, which is often one of the earliest and most bureaucratic phases of entrepreneurship. However, as businesses begin to operate and grow, their requirements shift significantly. Charikaty's platform facilitates the online incorporation of various business types—including SARL, SARL AU, SAS, or foreign subsidiaries—using a fully digital approach that employs legalized electronic signatures and provides upfront pricing transparency.
The incorporation process is notably efficient, taking as little as three days to complete. Furthermore, Charikaty has established a dedicated channel for the Moroccan diaspora, enabling Moroccans living in over 100 countries to incorporate their businesses without needing to travel or rely on a proxy or consular appointment. Beyond incorporation, Charikaty offers various services such as statutory amendments, domiciliation, accounting packages, trademark registration, and company dissolution. Clients benefit from a user-friendly portal that allows real-time tracking of their documents, with a dedicated legal expert assigned to each case.
This strategic shift comes at a time when Morocco is increasingly embracing digital solutions in company formation. According to the Ministry of Industry and Commerce, over 50,300 companies have been established electronically since the launch of the nation’s digital company-creation system, which accounted for 44% of all company formations in 2026. Charikaty recognizes a similar trend in the MENA region regarding accounting and tax compliance, particularly as electronic invoicing mandates are already in place in countries like Egypt and Saudi Arabia and are gaining traction across the Gulf.
Mouaqit emphasized the regional shift towards online tax administration, creating a burgeoning demand for adaptable software solutions that align with local regulations. He views Morocco as a testing ground for Charikaty’s accounting venture before expanding into additional markets.
From Incorporation to Comprehensive Business Solutions
One of the first manifestations of Charikaty’s broader strategy is Webaty, which launched in September. This service arose from a recurrent need among entrepreneurs collaborating with Charikaty, as establishing an online presence often follows business incorporation. Webaty approaches website development differently; rather than treating it as a generic service, it tailors solutions based on the specific profession and the desired outcomes for the business.
According to COO Driss Sijelmassi, the focus is not merely on speed but on ensuring that the developed website effectively meets the business's objectives. “While rapid delivery is important, it is secondary to the essential function of the website. It must serve the business's needs—be it reservations for a restaurant or inquiries for a consulting firm. Understanding these differences is crucial for creating an effective solution,” he explained.
Webaty provides bespoke web solutions tailored to each company's goals and identity, promising to deliver an initial version within 72 hours once the necessary content is provided. Additionally, Charikaty is preparing to launch a second venture focused on accounting and compliance, anticipated to roll out later this month. This initiative will align with Morocco's accounting framework and the upcoming electronic invoicing mandate, requiring businesses to issue and report invoices electronically to tax authorities.
The founders’ long-term vision transcends individual transactions, as the pre-seed funding empowers them to enhance services that accompany the company lifecycle. They recognize that many operational and commercial needs that arise post-incorporation remain unaddressed, making each newly created company on their platform a prime candidate for subsequent product offerings.
Ultimately, the pressing question for Mouaqit and Sijelmassi is not whether Charikaty can facilitate digital company creation but whether this technology-driven model can successfully broaden its scope to encompass the entire lifecycle of Moroccan enterprises and eventually expand into the larger MENA region. The involvement of Gulf investors further strengthens the link between Charikaty's current focus on Morocco and its expansion plans in the markets targeted by its accounting services.
As reported by moroccoworldnews.com.
