Egypt-based B2B platform Cartona raises $8.1m

Cartona, a B2B platform digitising Egypt’s traditional trade market, has completed an $8.1m Series A extension fundraise.

The platform connects retailers with wholesalers, suppliers, and FMCGs, streamlining the distribution process and improving profit margins.

The company’s technology integrates with retailers and suppliers for ordering, inventory management, embedded finance, and more, making trading more efficient and accessible.

The fundraising round led by…

… Algebra Ventures, with existing investors Silicon Badia and the SANAD Fund for MSME also participating.

Equity capital of $5.6m from the round will be used to accelerate growth in Cartona’s various verticals, including FMCG and HORECA, expand its market share, and lay the groundwork for regional expansion into new MENA markets.

The company is also exploring B2B2C opportunities. Additionally, $2.5m in debt capital from Camel Ventures and GlobalCorp was raised to meet local retailers’ working capital needs.

Cartona’s asset-light business model, characterised by a lean cost base and strong unit economics, has proven to be a significant competitive advantage, especially in an inflationary environment.

The company has seen substantial growth, now serving over 188,000 retailers across 17 Egyptian cities, with a robust revenue stream and increased digital adoption.

Funds to drive growth, says Cartona CEO

“We are delighted to complete a Series A extension from a position of strength,” said Mahmoud Talaat, CEO and co-founder of Cartona. “Our operational and financial metrics are progressing positively, helping us attract capital from both existing and new investors. We are committed to transforming the traditional trade market and creating value for all stakeholders. Our future includes expanding our product offerings and market penetration in Egypt, and replicating our success in other regional markets.”

Omar Khashaba, general partner at Algebra Ventures, praised Cartona’s capital-efficient model. “Cartona has built an exceptionally capital-efficient model that has allowed it to deliver strong growth and profitability, even during economic headwinds. The asset-light nature of its model creates a scalable infrastructure that can quickly adapt to new markets.”

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