What is Melltoo?
Melltoo operates as a peer-to-peer marketplace facilitating the secure buying and selling of new and used items across the United Arab Emirates and Saudi Arabia. The platform distinguishes itself by offering comprehensive services, including door-to-door delivery for both buyers and sellers, secure in-app chat functionalities, a money-back guarantee, and dedicated customer support. This integrated approach aims to build trust and convenience within the region's burgeoning e-commerce landscape, positioning Melltoo as a key player in the second-hand goods market.
How much funding has Melltoo raised?
Melltoo has raised a total of $1.2M across 2 funding rounds:
Angel/Seed
$205K
Debt
$1M
Angel/Seed (2015): $205K with participation from Dubai Silicon Oasis Authority, Womena, and Turn8
Debt (2017): $1M led by Womena, Dubai Silicon Oasis, Middle East Venture Partners, Turn8, and Raed Ventures
Key Investors in Melltoo
Dubai Silicon Oasis Authority
Dubai Silicon Oasis Authority, established in 2004, is a government-owned technology park in Dubai, United Arab Emirates, providing an integrated community for living and working, and supporting technology-driven enterprises.
Womena
Womena is a media platform dedicated to inspiring change through storytelling, focusing on accurate representation of women in media and fostering feminist discourse through various content formats.
Turn8
TURN8 Partners is an independent discretionary portfolio management firm focused on enhancing investment outcomes for its clients.
What's next for Melltoo?
The recent major strategic investment signifies a pivotal moment for Melltoo, likely indicating a transition into a scaling phase. This capital injection is anticipated to bolster operational capabilities, expand market reach within the MENA region, and potentially introduce new product categories or service enhancements. Strategic partnerships and further technological advancements are probable next steps as Melltoo aims to solidify its competitive advantage and capitalize on the growing demand for secure and convenient online marketplaces.
See full Melltoo company page
