Cairo-Based Cartona Secures $4.5 Million Round Led by Global Ventures
The Egyptian B2B e-commerce platform works by helping retailers access products from a curated network of FMCGs through one centralized platform.
Asset-light B2B marketplace, Cartona, has raised $4.5 million in a Pre-Series A funding round led by Dubai-based Global Ventures, with participation from Kepple African, T5 Capital and other angel investors. Set within the burgeoning e-commerce and retail play sector in Egypt, the Cairo-based startup will use this investment to improve its technology and expand beyond Cairo and Alexandria into other regions in Egypt. Longer-term plans include expanding horizontal and vertical products into pharmaceuticals, fashion and electronics.
Founded in 2019 by CEO Mahmoud Talaat, Mahmoud Abdel-Fattah and Rafik Zaher, Cartona positions itself as a solution to the supply-chain and operational challenges in the FMCG industry. The startup aims to help retailers access products from a curated network of FMCGs through one centralised platform. It also works to resolve issues of market price transparency and empower suppliers to make data-backed decisions by offering real-time price comparisons and set delivery times. Suppliers and FMCGs can optimize their market execution through data and analytics as well as benefit from embedded finance and access to credit.
Cartona owns no assets but generates money through a multi-faceted revenue channel, taking commission on orders, charging suppliers for running ads to merchants, providing market insight on buyer behavior and price competition.
The startup currently has more than 30,000 merchants on its platform and works with more than 1000 distributors, offering more than 10,000 products from dry to fresh to frozen food. Since its launch, Cartona has processed more than 400,000 orders with an annualized gross merchandise valued at $64 million.
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