Dubai: A UAE portal that allows trade in secondhand luxury items and electronics has scored with its latest funding round, picking up $5 million from investors, including BECO Capital.
These funds will be used by North Ladder – earlier known as BuyBack Bazaar - to scale up the technology used on the platform as well as raise customer experience. Retail-focussed online startups in the UAE have been quite busy in the last year, gaining traction with investors and customers.
This includes a handful of ‘Buy Now Pay Later’ platforms such as tango and cashew, which help shoppers stagger payments over months and not have to pay interest on these.
Pre-owned goods selling portals too are finding support, and this is what North Ladder has tapped. “The provision of a seamless and trusted digital platform for the sale of pre-owned goods has immense socially transformative potential at a global scale," said Dany Farha, CEO & Managing Partner, BECO Capital. "We are excited about partnering with them to take their services to the next level.”
Pishu Ganglani and Ricky Husaini are the co-founders of North Ladder, while Sandeep Shetty, formerly managing director at the ride-hailing business Careem, recently joined as Co-founder and CEO.