Cartlow, a cloud-based logistics technology platform in the UAE and Saudi Arabia, has acquired second-hand goods marketplace Melltoo, as it continues to expand its operations in the region’s biggest economies.
The company took over classified platform Melltoo, which has been in operation since 2014, for an undisclosed amount.
Customers of Melltoo, which also serves the UAE and Saudi Arabian markets, will now be redirected to Cartlow’s platform that offers about half a million products across 30 categories with different payment options, it said in a statement on Monday.
“More than two million products have been sold on our platform since we launched … we are thrilled with our latest acquisition of Melltoo, further allowing consumers to transact on our platform in the region,” Mohammed Sleiman, founder and chief executive of Cartlow, said.
“Through Cartlow's platform, Melltoo customers will be enabled with a wide range of products and a more convenient way to shop and sell preloved products.”
The acquisition will allow Cartlow to further consolidate its position in the global reverse logistics market. It will also continue to offer its cloud-based technology services to companies within the reverse logistics ecosystem, supporting the development of the circular economy in the Gulf region, the company said.
Cartlow, which began as a re-commerce platform, has grown to become a technology company that offers software-as-a-service (SaaS) solutions to major companies in the reverse logistics ecosystem.
Reverse logistics refers to chains that process anything returning through the supply chain, enabling the reusing of products and materials.
The global reverse logistics market is projected to reach $958 billion in 2028 at an aggregate annual growth rate of 5.6 per cent, from $635bn in 2020, according to a report by Allied Market Research.
The Middle East reverse logistics market is largely untapped and Cartlow plans to increase its market share through organic growth as well as acquisitions.
In June, the company raised $18 million in a growth financing round to expand its operations in the region’s two biggest economies. Cartlow will use the funding to further mature its business ecosystem in the region by combining return management, recycling and re-commerce through technology.
Cartlow’s partner, Al Sulaiman Group, a Saudi Arabia-based investor with interests in sectors including omnichannel retail, logistics and e-commerce, led the financing round.
Since launching operations, Cartlow has worked closely with major brands and retailers in the UAE and Saudi Arabia. Its re-commerce platform for consumers and businesses offers merchandise at cheaper prices on a range of products.
Cartlow was among six venture companies that were granted licences by Saudi Arabia in March. These companies have committed to invest a combined $162m in the Saudi economy, the kingdom announced during the Global Entrepreneurship Congress in Riyadh.
MATCH INFO
Uefa Champions League semi-final:
First leg: Liverpool 5 Roma 2
Second leg: Wednesday, May 2, Stadio Olimpico, Rome
TV: BeIN Sports, 10.45pm (UAE)
Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Killing of Qassem Suleimani
RESULTS
5pm: Wathba Stallions Cup – Handicap (PA) Dh70,000 (Turf) 2,200m
Winner: M'A Yaromoon, Jesus Rosales (jockey), Khalifa Al Neydai (trainer)
5.30pm: Khor Al Baghal – Conditions (PA) Dh80,000 (T) 1,600m
Winner: No Riesgo Al Maury, Antonio Fresu, Ibrahim Al Hadhrami
6pm: Khor Faridah – Handicap (PA) Dh80,000 (T) 1,600m
Winner: JAP Almahfuz, Royston Ffrench, Irfan Ellahi
6.30pm: Abu Dhabi Fillies Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: Mahmouda, Pat Cosgrave, Abdallah Al Hammadi
7pm: Abu Dhabi Colts Classic – Prestige (PA) Dh110,000 (T) 1,400m
Winner: AS Jezan, George Buckell, Ahmed Al Mehairbi
7.30pm: Khor Laffam – Handicap (TB) Dh80,000 (T) 2,200m
Winner: Dolman, Antonio Fresu, Bhupath Seemar
MIDWAY
Produced: Lionsgate Films, Shanghai Ryui Entertainment, Street Light Entertainment
Directed: Roland Emmerich
Cast: Ed Skrein, Woody Harrelson, Dennis Quaid, Aaron Eckhart, Luke Evans, Nick Jonas, Mandy Moore, Darren Criss
Rating: 3.5/5 stars
Tearful appearance
Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday.
Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow.
She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.
A spokesman said her upset demeanour was due to a personal matter.
COMPANY%20PROFILE
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When is VAR used?
• Goals
• Penalty decisions
• Direct red-card incidents
• Mistaken identity
DUBAI%20BLING%3A%20EPISODE%201
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Race%20card
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
UAE currency: the story behind the money in your pockets
Read more from Aya Iskandarani
ESSENTIALS
The flights
Emirates flies from Dubai to Phnom Penh via Yangon from Dh2,700 return including taxes. Cambodia Bayon Airlines and Cambodia Angkor Air offer return flights from Phnom Penh to Siem Reap from Dh250 return including taxes. The flight takes about 45 minutes.
The hotels
Rooms at the Raffles Le Royal in Phnom Penh cost from $225 (Dh826) per night including taxes. Rooms at the Grand Hotel d'Angkor cost from $261 (Dh960) per night including taxes.
The tours
A cyclo architecture tour of Phnom Penh costs from $20 (Dh75) per person for about three hours, with Khmer Architecture Tours. Tailor-made tours of all of Cambodia, or sites like Angkor alone, can be arranged by About Asia Travel. Emirates Holidays also offers packages.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Easter%20Sunday
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'How To Build A Boat'
Jonathan Gornall, Simon & Schuster
WITHIN%20SAND
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The Pope's itinerary
Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
Tuesday, February 5 - Abu Dhabi to Rome
9.15am: private visit to undisclosed cathedral
10.30am: public mass at Zayed Sports City – with a homily by Pope Francis
12.40pm: farewell at Abu Dhabi Presidential Airport
1pm: departure by plane to Rome
5pm: arrival at the Rome / Ciampino International Airport
Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199
Notable groups (UAE time)
Jordan Spieth, Si Woo Kim, Henrik Stenson (12.47pm)
Justin Thomas, Justin Rose, Louis Oosthuizen (12.58pm)
Hideki Matsuyama, Brooks Koepka, Tommy Fleetwood (1.09pm)
Sergio Garcia, Jason Day, Zach Johnson (4.04pm)
Rickie Fowler, Paul Casey, Adam Scott (4.26pm)
Dustin Johnson, Charl Schwartzel, Rory McIlroy (5.48pm)
