Cairo –  Cartona, Egypt's fastest-growing B2B E-commerce marketplace, has completed an $8.10 million ​​Series A extension ​fundraising, according to a press release.

The funding round was led by Algebra Ventures, Silicon Badia, and the SANAD Fund for MSME.

In addition to this investment, Cartona holds a cash position from its previous $12 million Series A funding, which was led by Silicon Badia.

Meanwhile, this fundraising includes $2.50 million in debt capital from leading ​debt ​​providers ​(​​Camel Ventures and GlobalCorp), which aligns with Cartona’s strategy to diversify sources of capital.

Mahmoud Talaat, CEO and Co-Founder of Cartona, said: “Our operational and financial metrics are all ​progressing ​very positively which has helped ​​us to​​​ attract capital from existing and new investors​​​.”

“We are committed to delivering ​our strategy which includes transforming the traditional trade market ​and creating value for all stakeholders in the marketplace,” Talaat added.

Omar Khashaba, General Partner at Algebra Ventures, commented: "The asset-light nature of its model creates scalable infrastructure that can quickly be adapted for entry into new markets and adjacencies.”

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