Another Indian startup gets funding from FbStart

Mumbai-based end-to-end fashion re-commerce platform CoutLoot has been selected for Facebook’s developer-focused FbStart program, and will secure access to $40,000 worth of credits and services from Facebook and various other platforms.

Founded by MahimaKaul, Sahil Khimavat, Vinit Jain &Jasmeet Thind, CoutLoot is a one-stop solution to de-clutter one’s closet for cash. While sellers get paid for selling off unused branded and boutique fashion items from their closet, buyers get to avail products from the best brands in a nearly-mint condition at up to 80% off.CoutLoot has seen sales of 2,000 items since inception, has an inventory of 6,000 clothes, and sees about 300-400 listings on the platform daily.

Commenting on the selection, Jasmeet Thind, Co-founder, CoutLoot said, “We at CoutLoot are constantly striving to make pre-loved and pre-owned fashion reselling a first-of-its-kind experience in India. Although our primary objective is to tackle the problems of scale and quality service in this space, we are presently focusing on enhancing user engagement and growing the user base. FbStart programme will be an immense boost to us at this phase of our evolution. Receiving mentorship from the pioneer of social networking will bring a huge opportunity for us to lead the fashion re-commerce revolution in India within the next couple of years.”

CourtLoot is currently available for sellers located in Mumbai, Delhi/NCR, Pune, Chandigarh, Chennai, Hyderabad, Kolkata and Bangalore, and delivers to buyers all over India.The startup launched the Android app and iOS app this year and has seen downloads to the tune of 12,000.

Earlier, Facebook has selected Patriko, VideoVibe, Couponhaat and Jobsenz for the program.