CoutLoot is an end-to-end reselling service that allows users to clean their closet by reselling unused and branded fashion items. Buyers get an 80% off on high end brands and sellers can effectively clear their wardrobes of never used clutter for some cash. CoutLoot was recently in the news for having received seed investment via Venture Catalysts. For those who are unfamiliar, Venture Catalysts is India’s first seed investment and innovation platform that aims at supporting and nurturing the tech focused startups in the country through its angel network and other existing business enabling support systems.
CoutLoot, previous to receiving seed investments, already had seen an extensive sale of 2,000 items and has an inventory of 6,000 clothes. It also sees a listing that goes into triple figures on a daily basis.
Founded by Mahima Kaul, Sahil Khimavat, Vinit Jain and Jasmeet Thind, CoutLoot plans to use the funds to expand the business geographically and introduce new categories. They also plan to strengthen their “tech framework in order to bring in better customisation and in-depth curation”.
VCats invests $100K to $250K in startups at the earlier stages and provides funding, space, community and other services.
