Cartlow, UAE-based startup, raises 6 digit USD figure in first round of investments
by magnitt 2020-03-31
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source: magnitt

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 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.