Fashion reCommerce Platform, CoutLoot, has raised an undisclosed amount of funding from Venture Catalysts. This is the first investment of Venture Catalysts in the e-commerce segment.
The raised capital will be used for strengthening its technology back-end, expanding its team, and to roll out its campus trendsetter programs in colleges.
It is India’s first high-street/ luxury hybrid market place to buy and sell authentic pre-owned designer wardrobe. Coutloot brings to its customers a carefully curated collection of preloved designer fashion with a focus on contemporary style and fit. This re-commerce service enables buy and sell preloved, preowned fashion from your wardrobe.
Fashion reCommerce Platform Coutloot was founded by Mahima Kaul, Sahil Khimavat, Vinit Jain & Jasmeet Thind last year in November.
CoutLoot, takes care of everything from curating a product to delivering it to the buyer and paying the seller for the same. The seller just has to click and sell their products on the platform. Sellers get paid for selling unused branded and boutique fashion from their own closet while buyer’s avail the best brands in absolute new-like condition at over 80% off.
Speaking about the occasion Dr. Apoorv Ranjan Sharma, co-founder at Venture Catalysts, mentioned, “Pre owned clothes is a huge market opportunity to be tapped on account of India’s burgeoning youth population. The CoutLoot team is a very dynamic team, with a strong focus on business economics, which is what attracted our attention.”
For all the services, CoutLoot charges 20% commission as information mentioned in their website.