Cartona’s asset-light approach has allowed them to scale rapidly, as evidenced by their annualized gross merchandise volume (GMV) increasing from EGP 2.3 billion ($120 million) in 2022 to EGP 10 billion ($210 million) currently. This scalability is appealing to investors seeking high-growth potential.

The funding will be used to solidify Educatly’s presence in key markets across the Middle East and Africa, including Egypt, Saudi Arabia, the United Arab Emirates, Nigeria, Kenya, and Ireland.

Offering financial support of up to USD2 million, alongside strategic guidance throughout the investment cycle, this program acts as a catalyst for success for innovative companies in the industrial and service sectors.

This regulatory shift comes in the wake of a global SPAC slowdown, with many SPACs facing challenges in identifying suitable acquisition targets and completing deals within the stipulated timeframe