Egypt-based B2B platform digitalising the country’s traditional trade marked, Cartona, has completed its USD 12 million Series A funding round. The funding was led by Silicon Badia, a venture capital company investing in global technology entrepreneurs, with the participation of MSME, SANAD, Arab Bank Accelerator, and Sunny Side Ventures.

The latest capital infusion will be used to boost Cartona’s expansion across Egypt, as well as explore new verticals. The company embraces a cashless society vision, aiming to drive financial inclusion in the country and beyond, while investing in embedded finance, payments, and operational integration with all stakeholders. This helps suppliers and retailers have access to an integrated solution, boosting financial inclusion, and allowing businesses to grow faster and more efficient.

Cartona’s business model focuses on an asset-light vision, which means it doesn’t own a warehouse, product, or vehicle. Its largely offline trade market execution focuses on eliminating inefficiencies across the supply chain, while also enabling seamless financial service solutions to underserved sectors of the market and thousands of small shops across Egypt. .