Cartlow’s US$18M series A round will fund expansion in Saudi Arabia and UAE
Cartlow, a reverse logistics platform, has raised $18 million in its series A round to further expand its operations and services in Saudi Arabia and the UAE, optimize technology and contribute to decarbonization in the economies. Cartlow is ISO certified and holds the R2 certification, demonstrating its commitment to environmentally responsible recycling practices.
The round was led by Cartlow’s strategic partner, AlSulaiman Group (ASG), a Saudi Arabia based group with investments in various sectors including omni-channel retail, logistics, and e-commerce.
The investment will enable Cartlow to further mature its ecosystem in the region by combining return management, recycling, and re-commerce through its advanced technology.
Cartlow is one of the leading cloud based technology platform in UAE and KSA, offering software as a service (SaaS) to major players within the reverse logistics ecosystem. Since Cartlow’s inception, they have handled more than +25 million units and saved more than 10 million tons of e-waste.
The growth of e-commerce businesses around the world has increased the number of returns and replacement items and the need for an efficient reverse logistics service. The demand for reverse logistics services to enable unhindered client satisfaction is growing around the world as manufacturers become more aware of the need to reduce negative environmental impact. Reverse logistics is an important part of the supply chain in a variety of industries, including automotive, electronics, pharmaceuticals, and others. Reverse logistics services have been developed and implemented by countries all over the world to extract value from returned and damaged products. According to Allied Market Research, the global reverse logistics market was valued at $635 billion in 2020 and is projected to reach $958 billion in 2028, with a cumulative annual growth rate of 5.6 percent. The MENA multibillion reverse logistics market was untapped and Cartlow is planning to make the most of it with this investment.
Mohammad Sleiman, Founder and CEO at Cartlow, stated “The investment will help take Cartlow to the next level. Our aim is to continue to drive innovative technology within the reverse logistics landscape across the region,”
Since its launch, Cartlow has significantly impacted the reverse logistics ecosystem by enabling major retailers and brands with various programs including returns management, warranty management, buy-back and trade-ins driven by its technology. In addition, Cartlow’s re-commerce platform for consumers and businesses provides unbeatable prices on a range of products assuring the highest quality standards.