CAIRO: Cartona, a B2B trade platform based in Egypt, has recently raised $12 million in a series A funding round. The proceeds will be used to expedite the company’s expansion across Egypt, grow its product range and technology and explore new verticals.
Jordan-based venture capital firm Silicon Badia led the round with SANAD Fund for MSME, Arab Bank Accelerator, Sunny Side Ventures and existing investors alongside Global Ventures and Kepple Ventures.
Mahmout Talaat, CEO of Cartona, told Arab News exclusively that the company will introduce buy now, pay later options for its retailers and sellers.
“The fintech solution is not meant to enhance our financials, but it’s very much needed for small shops to survive. So, it’s…