What is CoutLoot? CoutLoot Review

Basic Introduction

CoutLoot is a fashion item trading platform that provides users with a platform for buying and selling branded clothing based on its official website. The company provides sellers with a free pickup service for items on the platform. After receiving the product, the designer personally inspects the quality, gives a sales price and sells it, and the website handles transportation and delivery.

CoutLoot started operations in 2017, initially trading second-hand fashion items, before transforming its business model into a social e-commerce platform.

status quo

CoutLoot currently has over 50,000 suppliers, including grocery stores, medical stores and vegetable suppliers under its daily necessities category, which consumers within a 3-kilometer radius can order and choose to pick up or have delivered. On the supply side, suppliers can choose to deliver the goods themselves or use the services provided by the logistics partners they have signed with them.

Core Advantages

1. Leverage the power of social media to build a low-cost customer acquisition system. For example, different commissions are charged based on the speed at which the seller sells. If the seller is able to sell the product within 24 hours of listing, CoutLoot will charge a 5% commission. But if the sales time is extended to 72 hours or 7 days, the commission will rise to 7% and 10%. This incentivizes sellers to share their products through WhatsApp or Facebook and speed up sales.

Second, CoutLoot was incubated by FacebookStrat, so it has leading technology and the steps for sellers to publish products are very easy to use. At the same time, it also uses KOLs on Facebook, Instagram and even TikTok to guide traffic and sales. In terms of logistics and delivery, CoutLoot has currently established cooperative relationships with 15 different logistics partners.

Development History

In December 2016, Facebook selected Indian fashion startup Coutloot into the FbStart global program and provided support worth US$40,000.

In January 2017, the company acquired Bangalore-based Stororo Services Pvt. Ltd, but the specific acquisition amount was not disclosed.

In April 2018, CoutLoot, an Indian online fashion second-hand resale platform, announced that it had completed a pre-A round of financing of 65 million rupees (about 1 million US dollars). The lead investor was Jadevalue Fintech, a venture capital company under the Chinese microfinance company CashBus, and participating investors included Artha India Ventures, which had previously invested in the company, and financing incubation platform VentureCatalysts.

In April 2020, Indian social e-commerce platform CoutLoot completed its Series A financing, with Amiba Capital as the investor.

References

• 1. CoutLoot completes 65 million rupees pre-A round of financing: Yien [cited date 2018-04-06T16:00:00.000Z]
• 2. Facebook selects Indian fashion startup Coutloot into the FbStart global program and provides $40,000 worth of support: Lieyun.com [cited on 2016-12-01T16:00:00.000Z]