Melltoo, one of the promising new-generation startups coming out of Dubai, has just wrapped up its pre-Series A round participated by 500 Startups, Khwarizmi Ventures, KISP Ventures, and Shorooq Investments.
The gains from this round, according to the company, will play a crucial role in helping Melltoo expand its operational capacity, induct new, dedicated couriers, and switch to a larger fulfillment center.
Just in case you have never used Melltoo’s services before, it is basically an online marketplace that connects vendors and individual sellers to buyers without requiring them to meet physically. The website lists a wide range of products including, but not limited to, electronic devices and gadgets, musical instruments, auto and auto parts, apparels and accessories, home decor, and books, just to name a few.
Sellers can list their products for free and pay a one-time commission of 8 – 10% on each sale made on the site. As a promotional offer, the company is currently waiving off the commissions payable on the first three sales of all new members.
Speaking of the startup’s experience in its home turf so far, Morrad Irsane, co-founder of Melltoo, said: “The people of the UAE are incredibly generous – Since we launched Impacter, we’ve had an overwhelming response from people wanting to donate their used electronics for a good cause”.
Irsane added: “This initiative has had a powerful ripple effect, from donors being able to dispose of their electronics in an environmentally friendly way to buyers enjoying top-notch gadgets at rock-bottom prices and finally, to refugees in need receiving cash aid through charitable donations of the sale proceeds.”
With the successful completion of the pre-Series A round, Melltoo is now preparing for their forthcoming Series A round with further plans to take their charity sales up a notch.