Egyptian B2B platform Cartona raises $12mln to finance expansion

Egyptian B2B platform Cartona raises $12mln to finance expansion

Egypt - Cartona, a B2B trade market platform, has announced the successful closing of its $12m Series A fundraise.

The round was led by Silicon Badia – the venture capital firm investing in global technology entrepreneurs, together with the active participation of the SANAD Fund for MSME, an impact investment fund dedicated to supporting entrepreneurs in the Middle East and North Africa.

Arab Bank Accelerator and Sunny Side Ventures also participated, alongside existing investors – Global Ventures and Kepple Ventures – who joined Cartona’s journey last year, doubled down in this round.

Proceeds will be used to turbo-charge Cartona’s expansion across Egypt – to cover all governorates, grow its product, technology, and services – and explore new verticals beyond FMCG.

Cartona embraces a cashless society vision, investing in embedded finance, payments, and operational integration with all stakeholders. This provides retailers and suppliers with an integrated solution boosting financial inclusion enabling them to run and grow their business more efficiently, and reach end-consumers with essential products at affordable prices.

Cartona’s model is asset-light, not owning a single product or warehouse or vehicle. This allows Cartona to execute its strategy of digitizing Egypt’s traditional, largely offline trade market by eliminating inefficiencies across the supply chain – in