Cartona, a business-to-business platform leading efforts to digitize Egypt’s trade market, announced on Tuesday that it had successfully raised $USD 4.5 million in a Pre-Series A fund-raise. The fund-raise was led by Global Ventures, a Dubai-based international venture capital firm, and saw participation from Kepple Africa Ventures, T5 Ventures and a group of angel investors. The funding will be used by Cartona to invest in technology, launch new products and expand beyond its current presence in Greater Cairo, Alexandria and Mansoura. Founded in 2020 by Mahmoud Talaat and Mahmoud Abdel-Fattah, Cartona is an e-commerce marketplace for businesses that aims to solve supply-chain and operational challenges for the fast-moving consumer goods industry. Cartona manages to do so by digitizing the traditional trade market, offering solutions that connect retailers to manufacturers and wholesalers. For example, grocery retailers are able to use Cartona’s mobile application to order their store’s supply digitally from a curated network of sellers. “Small and medium retailers deserve the opportunity to operate their businesses efficiently while delivering growth simultaneously. To do so, they need access to credit, inventory and payment services. We are dedicated to empowering the B2B ecosystem…
Egyptian Start Up ‘Cartona’ Leading Digitization of Egypt’s Trade Market Raises $4.5 Million
September 22, 2021
