Cartlow, an U.A.E and Saudi Arabia platform the deals in refurbished goods at a bargained price has announced it has successfully raised US$2 million in a Pre-Series A round of financing.
The round of funding was patronized by Arzan VC, Vision Ventures, OTF Jasoor Ventures, and several other investors.
Founded by Mohammed Sleiman and launched in 2019, Cartlow buys slow-moving returned, pre-owned, or open-box from a slew of suppliers in bulk at low cost and resells on its platforms. Cartlow offers 3-12 months warranty to customers for most of its products.
Mohammed Sleiman, the founder & CEO of Cartlow in a statement, 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.”
“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,” he added.