$400k secured by Kenyan retail-tech startup Cartnshop to boost commercialisation
Cartnshop, a Kenyan company that helps African small businesses build up internet storefronts quickly and inexpensively, has acquired $400,000 in investment as it prepares to launch next month.
Cartnshop is an end-to-end e-store enablement engine that lets any retail or corporate organization acquire new consumers, and it was founded in 2018. Payment gateways, shipping and fulfilment centres, marketing and marketplace cross-listings, and company management capabilities are all part of the startup’s B2B and B2C channels.
“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,” said founder and CEO Joe Wambugu.
In late 2019, the firm 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 input to develop engine three, which is currently ready to go live and can support over one million merchants.
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 select retailers in Botswana and Tanzania, but Wambugu says Kenya is the company’s major emphasis.
