Facebook just pumped $40,000 into this Indian fashion startup

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Facebook just pumped $40,000 into this Indian fashion startupAn end-to-end fashion startup called Coutloot has managed to impress Facebook with its offerings. It is helping people sell their branded clothes to buyers who’re interested in buying used, affordable, branded apparel.

Statistics suggest that only we use only 20 per cent of the clothes we own. ‘CoutLoot’ is trying to give a solution for the 80% unused clothes lying in your wardrobe. The founders call it a curated marketplace service for people to buy and sell authentic, pre-loved and pre-owned fashion, where the seller can earn easy cash for his unused branded items and the buyer can buy the best brands at more than 70 percent off.

Facebook has recently selected CoutLoot for its developer-focused FbStart programme, which is designed to help early-stage mobile-focused start-ups build and grow their apps. The startup has received access to $40,000 worth of credits and services from Facebook and other platforms.

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Under the programme, CoutLoot would be receive mentoring from Facebook’s engineering teams and services from its partners including AWS, Annie, Dropbox, Adobe and MailChim.

It will also get a chance to access its exclusive community of developers and worldwide events. The programme provides free access to more than 25 services, including open source tools such as React Native, FB Login, Account Kit and App Analytics.

“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 focusing on enhancing user engagement and growing the user base. The FbStart programme will be an immense boost to us in this phase of our evolution. Receiving mentorship from the pioneer of social networking presents a huge opportunity for us to lead the fashion re-commerce revolution in India in the next couple of years,” Jasmeet Thind, Co-founder, CoutLoot told media.