Wednesday, July 2, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Funding

Cartona, an Egyptian B2B e-commerce startup, has secured a $8.1 million Series A extension

Tech Gist Africa by Tech Gist Africa
08/20/2024
in Funding, Middle East and Africa, News - Middle East And North Africa
0 0
2
Cartona Egypt

Cartona Egypt

0
SHARES
Share on FacebookShare on Twitter

Cartona, an Egyptian startup that digitizes and empowers mom-and-pop stores, hotels, restaurants, cafés, FMCG companies, and wholesalers, has secured a US$8.1 million debt and equity Series A extension round to fuel its growth in the domestic and international markets.

Algebra Ventures was the lead investor in the funding round. Silicon Badia and the SANAD Fund for MSME are also existing investors.

Cartona’s equity capital of US$5.6 million is intended to further accelerate growth in its various verticals, such as FMCG and HORECA, as well as to expand its market share, establish a solid foundation for regional expansion into new large markets in the MENA region, and investigate exciting potential B2B2C opportunities.

The round also includes US$2.5 million in debt capital from prominent debt providers, including GlobalCorp and Camel Ventures.

Cartona is a B2B e-commerce marketplace that was founded in August 2020. Its primary objective is to address the supply chain and operational challenges of the fast-moving consumer goods (FMCG) industry by digitizing the traditional, primarily offline, trade market.

The startup provides a marketplace that is asset-light and allows grocery retailers to digitally acquire their store necessities from a curated network of sellers. It serves over 3,000 consumers, has a presence in 17 Egyptian cities, and has 188,000 retailers on its platform.

“We are delighted to complete a Series A extension – which we have done from a position of strength. Our operational and financial metrics are all ​progressing ​very positively which has helped ​​us to​​​ attract capital from existing and new investors,” said Mahmoud Talaat, CEO and co-founder of Cartona.

“We are committed to delivering ​our strategy which includes transforming the traditional trade market ​and creating value for all stakeholders in the marketplace. Our product ​​rollout, verticals, and offerings ​will continue to ​grow as will our penetration of the Egyptian​ market. We have an exciting future ahead, replicating the successful execution of our business model in other ​regional markets – all making trading as easy and accessible as possible for retailers​ and suppliers,” Talaat added.

 

Read more on Tech Gist Africa: 

Educatly, an Egyptian edtech company, has raised $2.5 million in a new funding round.

i’SUPPLY, a pharmaceutical startup based in Egypt, has secured a pre-Series A funding round

Sahl, an Egyptian utility payment startup, has secured $6 million in funding

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

Kera Senegal
Funding

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

by Tech Gist Africa
06/15/2025
0

Senegalese e-health startup KERA Health Platforms has raised US$10 million in funding from the International Finance Corporation (IFC), a member...

Read more
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
DHL Group

DHL Group to Invest $575 Million in Healthcare and Logistics Expansion Across Africa and the Middle East

06/15/2025
Salpha Energy Nigeria

Salpha Energy, a Nigerian Clean Energy Startup Secures $1.3 Million Investment

06/15/2025
COREangels

COREangels MEA Launches $10 Million Fund to Support Early-Stage Startups in the Middle East and Africa

06/15/2025
Next Post
Google for Startups Accelerator Africa 2024

Google for Startups Accelerator Africa has selected 10 startups for its 8th cohort

Africa’s Business Heroes competition 2024

The 2024 Africa's Business Heroes competition has selected 50 finalists

HAVAÍC South Africa

HAVAÍC, a South African venture capital firm, has closed the $15 million first close of the US$50 million African Innovation Fund 3

Comments 2

  1. Pingback: Egyptian B2B E-commerce Platform Cartona Raises $8.1 Million in Extended Series A Funding – Clickvibes
  2. Pingback: Lucky ONE, an Egyptian finance startup, has raised $3M - Africapost
No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.