Cartona, a B2B platform connecting retailers to manufacturers and wholesalers announces its successful $4.5 million Pre-Series A fundraise.
The round was led by Global Ventures, a Dubai-based, international venture capital firm, with participation from Kepple Africa Ventures, T5 Ventures and a group of angel investors. Proceeds will be used to invest in deepening the capabilities of the technology to further enhance the user experience and introduce embedded finance within the product and order cycle.
Founded in August 2020, Cartona is a B2B e-commerce marketplace focusing on solving the supply-chain and operational challenges for the fast-moving consumer goods industry (FMCG) by digitising the traditional, predominantly offline, trade market. The Company offers an asset-light marketplace that enables grocery retailers to order their store needs digitally from a curated network of sellers.
Mahmoud Talaat, CEO and Co-founder of Cartona, said “Small and medium retailers deserve the opportunity to operate their businesses efficiently while delivering growth simultaneously. To do so, they need access to credit, inventory and payment services. We are dedicated to empowering the B2B ecosystem through technology and supply chain innovation. Cartona is committed to building a strong network of digitally connected retailers that have better control over their businesses through running a seamless daily operation”