Ahmed Yehia — Founder of DentaCarts, an online platform for trading dental products — said that the company has started a funding round to raise $10m in financing that will conclude before the end of the first quarter (1Q) of 2023.
In response to Daily News Egypt’s question about the use of financing on the side-lines of a round table at the company’s headquarters on Monday, he explained that the company aims to use the new financing to expand regionally, starting with the Saudi market and a number of African markets, specifically Kenya and South Africa.
DentaCarts is considered the first Egyptian platform specialised in e-commerce for the sale of medical devices and tools in the field of dentistry. DentaCarts was established in 2017 with the aim of supporting and facilitating the life of dentists. It also provides a full clinic equipment service. Over the past five years, DentaCarts has succeeded in delivering more than 3,000 orders per month. More than 30,000 dentists have downloaded the electronic application on smart phones, and its platform displays more than 35,000 products for more than 650 local and international brands.
According to Yahya, the Dentacarts platform provides many payment systems and instalment solutions through a network of partners, such as Forsa, ValU, and Simple. Instalments can also be made through Mashreq Bank, the National Bank of Egypt, CIB, and Banque Misr.