Egypt-based B2B e-commerce platform Cartona has successfully raised an additional $8.1 million in Series A extension funding, led by Algebra Ventures.

The investment, a combination of $5.6 million in equity and $2.5 million in debt, marks a significant milestone for the company as it accelerates its mission to digitize Egypt's traditional trade market.

Founded in 2019, Cartona has rapidly grown to connect over 188,000 retailers across 17 Egyptian cities with FMCG producers, wholesalers, and distributors.

The platform's innovative approach has disrupted the traditional supply chain by offering a digital marketplace that streamlines operations, improves efficiency, and enhances profitability for all stakeholders.

The newly acquired capital will fuel Cartona's expansion plans, enabling the company to solidify its position in the Egyptian market, explore new opportunities in the MENA region, and potentially venture into B2B2C services.

By investing in product development, marketing, and talent acquisition, Cartona aims to further enhance its platform's capabilities and deliver exceptional value to its customers.

A key differentiator for Cartona is its asset-light business model, which has allowed the company to achieve impressive growth while maintaining a lean cost structure.

This financial prudence has been particularly advantageous in navigating the challenges posed by inflationary pressures. Moreover, Cartona's commitment to financial inclusion is evident in its efforts to provide small retailers with access to credit and working capital through its platform.

Algebra Ventures, a leading Egyptian venture capital firm, expressed confidence in Cartona's potential to revolutionize the retail industry. Omar Khashaba, General Partner at Algebra Ventures, highlighted the company's strong financial performance, capital efficiency, and ability to adapt to market challenges.

The investment firm believes that Cartona's innovative approach and experienced leadership team position it for long-term success.

As Cartona continues to scale its operations and expand its reach, the company is poised to become a driving force in the transformation of Egypt's retail landscape.

By empowering retailers and suppliers with cutting-edge technology and financial solutions, Cartona is creating a more efficient, sustainable, and inclusive ecosystem for the entire industry.