Recommerce platform CoutLoot raises $1 million from Chinese Investment firm Jadevalue Fintech and others

By: | Published: April 4, 2018 3:27 PM

Founded by Sahil Khimavat, Vinit Jain, Mahima Kaul, and Jasmeet Thind, Coutloot is a platform that allows users to buy and sell pre-owned clothes, accessories and shoes. The platform further enables an end-to-end process where sellers are provided logistics for delivery and payment on confirmation.

Recommerce platform CoutLoot raises $1 million from Chinese Investment firm Jadevalue Fintech and others

C2C fashion recommerce platform CoutLoot has secured $1 million in pre-series A round of investment led by Jadevalue Fintech. Jadevalue Fintech is an investment arm of multibillion Chinese company CashBus. The round also saw participation from existing investors Artha India Ventures and Venture Catalysts . The company that works on a customer-to-customer (C2C) model plans to use the freshly secured funds for geographical expansion and adding more categories on the platform.

Commenting on the funds raised, mahima Kaul co founder at CoutLoot said, “The aspiration value in India is increasing and the circular economy model compliments it really well, times will only get exciting with the next set of 500 Mn users coming online in the years to follow, we’re focussed on building a mass market business for the millennials.”

Founded by Sahil Khimavat, Vinit Jain, Mahima Kaul, and Jasmeet Thind, Coutloot is a platform that allows users to buy and sell pre-owned clothes, accessories and shoes. The platform further enables an end-to-end process where sellers are provided logistics for delivery and payment on confirmation. Further it becomes easier for buyers with a low budget to buy branded clothing with over 80 percent discount.

On the investment side, Johan Uddman, General Manager at Jadevalue Fintech said, “We believe that a technology driven re-commerce marketplace in India for the mass market creates value for all parties involved, including sellers, buyers and the society at large.”

The company claims to be operating in 14 cities across India and has over 500,000 app downloads. The company further boards celebrities to sell their products on the platform. Karishma Tanna, Aditi Bhatia, Niti Taylor, are a few names that sell on the platform.

Recommerce is expanding its wings in India with companies like Envoged, Zapyle, Spoyl, among others. With more and more companies entering the segment, it will be interesting to what the future of Recommerce holds.

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