Riyadh - Sharikat Mubasher: Tali Ventures, the investment arm of stc, led a series B funding round worth SAR 37.5 million (around $10 million) for NorthLadder, a digital platform enabling frictionless trade of pre-owned electronics, with the participations from Dutch Founders Fund and Crescent Ventures, a recent statement unveiled.
NorthLadder will use the investments to fuel its regional and global expansion plans.
Founded by Mihin Shah, Pishu Ganglani, Ricky Husaini, and Sandeep Shetty, NorthLadder is a digital platform that trades second-hand electronics such as smartphones, laptops and tablets at affordable prices with no hidden charges.
This investment aligns with Tali Ventures’ mission to increase sales in the smart devices sector and invest in companies that promote the concept of sustainability.
This collaboration further includes leveraging Tali Ventures’ capabilities to provide consulting and support to the NorthLadder team. Additionally, it involves integrating stc’s services and applications with NorthLadder.
It is worth mentioning that NorthLadder has emerged as the leading trade-in player in over 10 countries, serving major telecom companies, retailers, e-commerce players, and other sectors.
