Cartnshop – a Kenyan-based startup which enables small and medium enterprises (SMEs) in the African continent set up virtual stores has raised the sum of $400 thousand dollars in its funding as it prepares to commercialise its operations in March.
The startup which was founded in 2018 by Joe Wambugu serves as an end-to-end e-store enabler engine that permits SMEs attract new customers while using its services. Also, the startup has B2B and B2C channels, incorporating payment gateways, delivery and fulfillment centres, marketing and marketplace cross-listings and business management capabilities.
In late 2019, Cartnshop released engine one and also, onboarded 50 merchants. It later released engine two with over 300 merchants after its proven concept and gathered feedback.
In 2020, it ventured into a market proof of concept with Safaricom and EABL after gathering enough feedback from the market to launch engine three, which is now ready to go live and can accommodate over one million merchants.
“The Cartnshop ecosystem brings stakeholders including manufacturers, suppliers and distributors, service providers and e-commerce enablers into the channels, enabling a complete model of B2B2C”, founder and CEO Joe Wambugu said on the funds raised.
The rollout will be funded by a US$400,000 raised this month came from various business angels. Cartnshop has released its platform to some shops in Botswana and Tanzania, but Wambugu said its primary focus was on Kenya.