Egypt's Cartona Raises $8.1m Series A Extension Led by Algebra Ventures

Cartona, an Egyptian B2B e-commerce platform that connects retailers with suppliers, has raised $8.1 million in a Series A extension round led by Algebra Ventures. The financing combines $5.6 million in equity, with participation from existing backers Silicon Badia and the SANAD Fund for MSME, alongside $2.5 million in debt capital arranged with providers including Camel Ventures and GlobalCorp.

The company digitises the traditional trade supply chain for small and medium-sized merchants across Egypt, linking grocery stores, restaurants and other retailers directly with fast-moving consumer goods manufacturers, wholesalers and distributors. The debt facility is aimed specifically at financing the working-capital needs of the retailers on its platform, a persistent pain point in Egypt's fragmented retail sector.

Cartona said it would use the equity portion to accelerate growth across its various business verticals, deepen its presence in the Egyptian market and evaluate expansion into new categories, including potential business-to-business-to-consumer opportunities. The startup previously raised a $4.5 million pre-Series A in 2021 and a $12 million Series A, positioning the extension as additional fuel rather than a fresh priced round.

The raise reflects continued investor conviction in asset-light B2B marketplaces that bring efficiency and embedded finance to the informal retail channels that still dominate consumer spending across North Africa.