UAE – NorthLadder, a UAE-based digital trading platform for pre-owned electronics, has raised $10 million through a convertible note.
The funding round was led by CE-Ventures, the corporate venture capital arm of Crescent Enterprises, with the partnership of BECO Capital which had invested $5 million in the last funding round, Venture Souq, and Dutch Founders Fund.
The new funds will be used to expand NorthLadder’s operations geographically and enlarge its existing business-to-business (B2B) collaborations, according to a recent press release.
The platform, which is launched in the MENA region, aims to expand its services worldwide to provide sellers and buyers with second-hand electronics.
Meanwhile, Co-Founder and CEO of NorthLadder, Sandeep Shetty, said: “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.”
Tushar Singhvi, Deputy CEO and Head of Investments at Crescent Enterprises, said: “We look forward to supporting the scaling of NorthLadder’s operations and its expansion into other strategic markets, with the overarching mission of reducing the tech industry’s carbon footprint and working towards a more sustainable future.”
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