The fresh funding will be used to invest in enhancing Cartona’s technology to further improve the user experience and introduce embedded finance within the product and order cycle
Egyptian B2B marketplace platform Cartona secured $4.5 million in pre-series A funding, which the startup plans to invest further develop its technology, launch new products and expand geographically across Egypt.
“Small and medium retailers deserve the opportunity to operate their businesses efficiently while delivering growth simultaneously...We are dedicated to empowering the B2B ecosystem through technology and supply chain innovation,” CEO and Co-founder of Cartona, Mahmoud Talaat said in a statement.
Led by Dubai-based venture capital firm Global Ventures, investors included Kepple Africa Ventures and T5 Ventures, in addition to a group of angel investors.
The fresh funding will be used to invest in enhancing Cartona’s technology to further improve the user experience and introduce embedded finance within the product and order cycle.
“It is time to capitalize on technology beyond warehouses and trucks. Data and technology will transform traditional retail to a digitally-native one, which in return will drastically improve the supply chain efficiency,” explained Cartona CTO and Co-founder, Mahmoud Abdel-Fattah.
Cartona launched its B2B e-commerce marketplace to eliminate inefficiencies across the value chain, with an aim to solve supply-chain and operational challenges for the fast-moving consumer goods industry (FMCG) through data and analytics.
“Cartona is committed to building a strong network of digitally connected retailers that have better control over their businesses through running a seamless daily operation,” explained Talaat.
The marketplace has over 30 thousand users in Cairo and Alexandria, and has processed over 400 thousand delivered orders with an annual gross merchandise value of EGP 1 billion. Cartona currently works with 100 FMCG companies, 1,000 distributors, and wholesalers, offering consumers over 10,000 products listed on its platform including dry, fresh, and frozen food.
The General Partner at Global Ventures, Basil Moftah, said “The trade market is one of the most sophisticated, yet characterized by multiple critical inefficiencies across the value chain. Cartona’s asset-light approach tackles those inefficiencies by optimizing the trade process in unique ways, and does so with minimal capital spent."
