Cartona an Egypt-based B2B trade market platform has raised $12 million through series A funding.
The round was led by global venture capital firm, Silicon Badia, participation from the SANAD Fund for MSME, an impact investment fund for the Middle East and North Africa, Arab Bank Accelerator, and Sunny Side Ventures.
The company is planning to use its funding to boost expansion across Egypt, as well as strengthen its technology and offerings.
Company: Cartona
Raised: $12.0M
Round: Series A
Funding Month: July 2022
Lead Investors: global venture capital firm, Silicon Badia
Additional Investors: SANAD Fund, Sunny Side Ventures
Company Website: http://www.cartona.com/
Software Category: B2B e-commerce platform
About the Company: Founded in 2019, Cartona has over 60,000 users working with 200 fast-moving consumer goods companies as the sector in Egypt is growing annually by 8 percent. Cartona is one of the fastest growing B2B e-commerce marketplaces in Egypt. Streamlining the distribution process, we directly connect retailers with suppliers, wholesalers, and producing companies. Through Cartona, retailers can browse, compare, and order their merchandise, saving time, money, and effort in their daily operations.
Source: https://www.arabnews.com/node/2129181/business-economy
https://techcrunch.com/2022/07/25/egyptian-b2b-e-commerce-player-cartona-raises-12m-to-scale-and-explore-new-verticals/