Cartlow, a UAE-based e-commerce solution has raised a $2M Pre-Series A funding round, from Arzan Ventures, Vision Ventures, Jasoor Ventures, and other investors. Alongside this, Cartlow has launched its sister company – VASCART.
Cartlow has launched over a year ago. Cartlow is focused on transforming and digitalising the pre-owned industry and eliminating unsustainable practices. It aims to build a scalable technology and operations platform to deliver a reliable and high-quality product to the end consumers.
The company works alongside a series of well-trusted global brands and recognised household names, helping to turn-over their inventory and reduce unsustainable practices. It achieves that by purchasing pre-owned, or ‘open-box’ products at a low cost from partners who normally toss away items. Thus, it is disrupting a generation of ‘e-waste’.
This allows Cartlow to then resell the items to consumers after grading, testing, certifying, and restoring them to their original condition. The items are then sold at the best prices on Cartlow’s website and applications which are all safeguarded by warranty.
Founder and CEO, Mohammed Sleiman said,
“We are still in the early stages of learning how to bring new value to our customers by introducing re-commerce to the region. Our goal remains in continuing to solidify and extend our brand and customer base, since we first successfully launched Cartlow and now we have decided to create more opportunities by launching VASCART for retailers and distributors to benefit from, thereby enhancing their conversion rate and longtime value.”
With the launch of the VASCART, they will provide retailers, brands, and distributors with a value-added service and an after-service market, to tackle some issues faced by many partners in the region.
The services include buyback solutions, liquidation services, extended warranty programme, refurbishing, quality control, and more.
By establishing VASCART, Cartlow’s mission is to empower the ecosystem by building the capacity, adding value proposition through the model whilst supporting partners and other brands.
Typically, within the standard retail world, a product life cycle ends when the product is purchased. However, in reality, this is not the case since customer returns, end-of-life, or overstock products. This is where VASTCART’s concept will utilise the ‘reverse logistics’ mechanism.
Mohammed Sleiman stated,
“We are determined to restructure the pre-owned, after-sales, and liquidation market in this region under the re-commence ecosystem and we will continue to do so by doing our best, to facilitate both consumers and retailers with endless solutions.”
The world of ‘re-commerce’ is currently an untapped, unstructured, and unmatured industry in the Middle East. With an estimated GCC market size of $10B across all categories, Cartlow has crossed 1M sold items within its first year of operation.