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
The new round of funding is the largest in the Middle East and North Africa (MENA) region's FinTech industry so far this year
The auto tech focused startup already has over 50,000 car owners in Egypt, the UAE and Saudi Arabia
Egypt’s start-up investment value last month reached $70.7 million, making it the 2nd in the MENA region behind the UAE
According to the ITIDA CEO, Egypt has recorded the highest venture investment, worth USD190 million, up 30% YoY in 2020, with a CAGR of 100% from 2015-2020
