“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,” he added.
North Ladder is among a handful of e-commerce marketplaces for used luxury goods that have raised funding. Last year, Huda Beauty Investments – the investment arm of cosmetics firm Huda Beauty – completed an $11m round along with VC firm MEVP in another pre-owned luxury goods e-commerce site The Luxury Closet.
North Ladder, which was previously called BuyBack Bazaar, allows users to sell electronics such as phones, laptops, tablets and smart watches, as well as luxury items including watches and cars, with an option to buy them back within a few months. It provides access to verified buyers of second-hand goods and instant cash.
North Ladder secures $5m funding round led by Beco
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Dubai-based portal selling pre-owned luxury goods picks up $5m
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Dubai-based trading platform for pre-owned luxury goods picks up $5m
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