Cartnshop, a Kenyan retail tech firm, has raised $400k to help with commercialization. Cartnshop, a Kenyan startup that helps African small businesses build up internet stores quickly and affordably, has acquired $400,000 in funding as it prepares to launch next month.
Cartnshop is an end-to-end e-store enablement engine that lets any retail or corporate organization to acquire new customers, and it was founded in 2018. Payment gateways, shipping and fulfillment centers, marketing and marketplace cross-listings, and business management capabilities are all part of the startup’s B2B and B2C channels.
“The Cartnshop ecosystem pulls stakeholders into the channels, including manufacturers, suppliers and distributors, service providers, and e-commerce enablers, providing a complete model of B2B2C,” stated Joe Wambugu, creator and CEO.
In late 2019, the startup launched engine one and onboarded 50 merchants. It released engine two with over 300 merchants after demonstrating the concept and receiving feedback. In 2020, it embarked on a market proof of concept with Safaricom and EABL, gaining enough market feedback to develop engine three, which is currently ready to go live and can accommodate over one million merchants.
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The rollout will be sponsored by a US$400,000 investment from a group of business angels this month. Cartnshop has made its platform available to some retailers in Botswana and Tanzania, but Wambugu says Kenya is the company’s major emphasis.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer