Cartona Lands $8.1 Million in New Investment to Accelerate Middle East Expansion
Cartona, the Egypt-based B2B e-commerce platform, just raised $8.1 million in a Series A extension. Algebra Ventures led the round, with Silicon Badia and the SANAD Fund for micro, small, and medium enterprises also chipping in.
Camel Ventures and GlobalCorp added $2.5 million in debt and $5.6 million in equity.
Founded in 2019, Cartona connects small retailers with FMCG producers, wholesalers, and distributors. They’ll use the new funds to speed up expansion, boost market share, and explore new markets in the Middle East and North Africa.
Last year, Cartona raised $12 million in a Series A round.
CEO and co-founder Mahmoud Talaat said, “We’re focused on changing the trade market and adding value for everyone involved. We’ll continue expanding our offerings and reach.”
Omar Khashaba from Algebra Ventures praised Cartona’s efficient, flexible model and its impact on financial inclusion through inventory financing.
