Cartona, Egypt’s B2B e-commerce platform raises $8.1m
By Gloria Methri
Cartona, the B2B platform digitizing stakeholders of Egypt’s traditional trade market, has raised $8.1 million in Series A extension fundraising.
The round was led by Algebra Ventures, with Cartona’s existing investors, Silicon Badia and the SANAD Fund for MSME, also participating. The round follows Cartona’s previous $12 million Series A funding, which was led by Silicon Badia.
Equity capital—$5.6 million—is earmarked to further accelerate growth in Cartona’s different verticals, including FMCG and HORECA; grow its market share; establish firm foundations for regional expansion into new large markets in MENA; and explore exciting possible B2B2C opportunities.
Mahmoud Talaat, CEO and Co-Founder of Cartona, said, “Our operational and financial metrics are all progressing very positively which has helped us to attract capital from existing and new investors. We are committed to delivering our strategy, which includes transforming the traditional trade market and creating value for all stakeholders in the marketplace. Our product rollout, verticals and offerings will continue to grow as will our penetration of the Egyptian market. We have an exciting future ahead, replicating the successful execution of our business model in other regional markets – all making trading as easy and accessible as possible for retailers and suppliers.”
Cartona’s asset-light business model, with a lean cost base and compelling unit economics, remains a major competitive differentiator. The company has reached experience levels on par with asset-heavy operating models.
Cartona empowers the traditional retail market to be more efficient by streamlining the distribution process – directly connecting retailers with wholesalers, suppliers and FMCGs. Retailers can better manage stock and working capital via cash or credit orders – improving profit margins. Cartona’s proprietary technology can be fully integrated with retailers and suppliers for ordering, inventory management, branding, embedded finance, ledger and tax.
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