Egypt’s Cartona raises $8.1M even as investors pull back from B2B e-commerce in Africa
- Cartona raises $8.1 million in a Series A extension, bringing its total Series A funding to $20.1 million.
- The platform plans to use the funds to grow its market share in Egypt and potentially expand into other regional markets.
- Cartona's asset-light model has allowed it to improve its tech and user experience, achieve profitability, and build strong partnerships with suppliers.
Cartona's ability to raise additional funding and its focus on profitability despite challenges faced by other B2B e-commerce startups in Africa is commendable. The platform's asset-light model has proven successful in improving its operations and building strong partnerships with suppliers. With its plans for expansion and growth, Cartona is well-positioned to capitalize on the massive opportunity in the Egyptian retail market.
