Reverse logistics firm Cartlow has secured $18 million in a Series A funding round from AlSulaiman Group to further the startup’s expansion efforts in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE), according to a Wednesday (June 15) press release published by Zawya.
Headquartered in Dubai and founded by CEO Mohammad Sleiman in 2019, the company first started as a reCommerce platform. It later grew into a cloud-based technology platform offering Software-as-a-Service (SaaS) to companies in the reverse logistics industry, the release stated.
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Cartlow offers an end-to-end reverse logistics solution and is focusing on reCommerce solutions, transforming the pre-owned industry ecosystem, and eliminating unsustainable practices. The tech-enabled reverse logistics platform combines reCommerce, return management, buyback, trade-in, warranty management, refurbishing and recycling. The startup has handled more than 25 million units and saved more than 10 million tons of eWaste, according to the release.
“The investment will help to take Cartlow to the next level,” Sleiman said in the release. “Our aim is to continue to drive innovative technology within the reverse logistics landscape across the region.”
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Reverse logistics can be among a firm’s biggest operational challenges because of volume, cost, and skill requirements, according to reports. Cartlow said it aims to provide retailers with a tech-enabled solution that removes that burden by offering the necessary tools for better retrieval rates and an inventory that makes sense.
“Our investment in Cartlow further highlights our commitment to the Kingdom’s Vision 2030 sustainability targets through enhancing the circular economy and reducing waste in value chains,” said AlSulaiman Group CEO Saud AlSulaiman in the release.
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