NorthLadder, digital platform that enables frictionless trade of pre-owned electronics, raised $10m convertible note, led by CE-Ventures, with supporting investment from BECO Capital, Venture Souq and Dutch Founders Fund.
The new funds will be used to scale up the company’s technology platform, expand geographically, and further current B2B partnerships.
NorthLadder has secured partnerships with large electronics retailers and has created several innovative service offerings to offer great value to customers and retail partners.
CE-Ventures, the corporate venture capital arm of Crescent Enterprises, is focused on strategic investments in early-to-late-stage high-growth companies and select venture funds globally. It has invested in various companies across diverse sectors.
“We are privileged to partner with the region’s leading VC firms. We have always envisioned building NorthLadder into a global business. With this latest round of funding, we plan to further strengthen our talent base and expand our market reach in multiple countries including the UAE and KSA. Affordability, driven by Trade-in’s, is a key enabler for the sale of new devices and we are excited about powering this for our partners, through our unique global business model that ensures the best residual value for second hand devices,” Sandeep Shetty, Cofounder and CEO of NorthLadder, stated.
Read more: Mylerz, e-commerce fulfillment startup, raises $9.6m
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