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Dubai, United Arab Emirates – One of the region’s fastest growing startups, Cartlow, raises its first round of funds from Arzan Venture Capital, Vision Ventures, and a group of angel investors.
The UAE startup, is one of the first ‘re-commerce’ apps in the region, filling a gap in the pre-owned market by providing a solution for both retailers and consumers while sustaining the environment. With this investment, Cartlow plans to enhance technology and focus on near-future expansion to various GCC countries.
With inception in 2019, Cartlow has already shown success with over 100,000 items sold and half a million downloads since the official launch. Potentially a promising future for the home-grown concept, Cartlow foresees rapid growth this year with its first round of investments as it continues to scale.
Cartlow Founder, Mohammad Sleiman, comments “We are aiming to boost our selection and B2B solution while scaling our technology and expanding to other countries in the GCC region. Our first round of investments came with the aim to grow the business while keeping our promise to offering consumers a ‘smarter way to shop’.”
Cartlow is currently bridging a non-structured market gap and offering local consumers big-name products at market-beating prices from smartphones and tablets, to laptops, TVs, watches, toys, home appliances and more.
“Consumer adaption to the ‘pre-owned goods’ market is growing as trust is built with quality checks for each product. While other businesses may connect the buyers and sellers, we are raising the bar of the pre-loved items by providing a quality service by offering warranty, return policy, and extra value-added services such as installment plans, and much more launching soon” Mohammad says.
Whilst the consumer market is flourishing with an ever-increasing range of items to choose from, affordability is not. Cartlow provides users with a ‘smarter way to shop’; by purchasing these premium products and repurposing them for use. Each of the products that Cartlow distributes is expertly tested in-house and certified with up to one-year warranty, providing users with a peace-of-mind shopping experience, as well as a guaranteed best value deal.
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Cartlow is an all-new mobile app that has recently launched in the UAE to aid both buyers and sellers. With consumers constantly on the look- out for the best deals in the market, and retailers discarding millions of returned and overstocked products every year, Cartlow found the potential gap to make use of these fully functional items, while benefiting both parties.
Cartlow offers consumers access to a limitless selection of certified open-box, pre-owned, refurbished and clearance products that present its shoppers with unbeatable prices on every-day items, all covered through a comprehensive warranty. Cartlow works alongside a series of well-trusted global brands and recognized house-hold names, helping to turn-over their unhealthy inventory to reduce unsustainable practices. The sustainable-driven app plans to empower retailers and distributors with a solution to sustain healthy inventory. By taking on returned and excess goods from retailers, Cartlow reduces waste and carbon emissions through its recycling and reselling program, setting an example in the industry by promoting sustainable habits. Giving these products a second chance by bringing them to customers at an affordable price point, whilst making a conscious effort to limit the burden and carbon footprint of open box return practices.
Cartlow is founded and led by Mohammed Sleiman, ex Co-Founder and Managing Director of Helpbit (An Amazon acquired Company under souq.com), who has previously built and lead one of the largest aftersales operations and on demand service apps in the region. With more than 15 years of managerial experience with a number of leading firms, Mohammed found a gap in the market and a business opportunity within the pre-owned and refurbished Industry.
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