Cartona raises $8.1M despite market downturn

By  
Artur Stańczuk
August 4, 2024
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Summary:

Cartona, an Egyptian B2B e-commerce platform, raised $8.1M in a Series A extension led by Algebra Ventures. Despite investor concerns, Cartona's asset-light model and near profitability attracted new funding. The funds will enhance its FMCG and HORECA operations and explore expansion to Saudi Arabia.

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