Tali Ventures, the corporate venture capital arm of STC Group, has led a US$ 10 million series B funding round for NorthLadder, a device trade-in platform operating in over 10 countries in Europe and Middle East according to their press relaese. Additional contributions came from Dutch Founders Fund and Crescent Ventures, according to a press release issued by Tali Ventures. According to Northladder’s website they cooperate with Apple, Samsung, Amazon and a few big Operators, mainly in the Middle East. Recently Northladder acquired Dutch reseller of used devices Renewd.
NorthLadder, founded by Mihin Shah and Sandeep Shetty, specializes in the trade of pre-owned electronics, including smartphones, laptops, and tablets. With a mission centered on circularity and sustainable practices, the platform provides transparent, no-hidden-cost transactions, helping users resell devices with ease. This latest funding round will support NorthLadder’s expansion across the MENA region and internationally.
Tali Ventures' commitment to sustainability
Tali Ventures, launched earlier this year by STC, is dedicated to fostering technological innovation and sustainable growth in its portfolio companies. The firm focuses on high-growth investments from early to late stages, with an emphasis on companies that drive digital transformation and sustainability.
Majed I. Aljarboua, General Manager of Corporate Fund and Entrepreneurship at STC, emphasized the alignment between Tali Ventures and NorthLadder’s shared values: “This investment aligns with Tali Ventures and STC Group’s shared goal of propelling technological advancement and nurturing start-ups to shape the future of technology and society. NorthLadder’s commitment to circularity perfectly complements our vision of a more sustainable world, where the protection of both community and planet is not a byproduct but a core mission.”
NorthLadder’s Funding Journey
NorthLadder has a track record of attracting investment to fuel its growth. In 2021, 2 years after funding the company raised US$ 5 million in a funding round led by BECO Capital, an early-stage venture firm focused on tech growth in the MENA region. This funding allowed NorthLadder to expand its network of verified buyers, develop its platform, and enhance its services in the GCC markets.
Following this, in 2022, NorthLadder raised an additional US$ 10 million in a round led by CE-Ventures, with participation from BECO Capital, Venture Souq, and Dutch Founders Fund. This investment aimed to scale the platform’s technology, strengthen its B2B partnerships, and increase its geographical footprint across MENA.
Funding to be used for expanding
With this new funding, NorthLadder plans to scale its technology platform and broaden its reach, aiming to capture emerging markets like Egypt and Saudi Arabia. Additionally, the partnership with Tali Ventures involves providing consulting support and integrating STC's services and applications with NorthLadder’s platform.
Renewd’s integration
After NorthLadder acquired Dutch secondary device reseller Renewd, several key team members from Renewd joined NorthLadder. Renewd founder Bram Wingens took on the role of Vice President of Commercial, while Joost Wijermars was appointed as NorthLadder's European Managing Director. The remaining Renewd team is also being integrated into NorthLadder to strengthen its operations. Additionally, NorthLadder brought on Fergal Donovan, a well-regarded telecom industry veteran, as an advisor to support its expansion in Europe.
Market
Trade-in
Repair
Refurbishing
