CoutLoot, an end-to-end fashion re-commerce platform, has been selected for the Facebook’s FbStart accelerator programme. With this selection comes access to $40,000 worth of credits and services from the social media giant.
As a part of this programme, CoutLoot would also receive mentoring from Menlo Park-headquartered tech giant’s engineering teams. 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.
The FbStart initiative from the company helps the users to grow their startups by leveraging valuable tools and services, worldwide events and opportunities to engage with the Facebook team.
Since past few weeks, many Indian startups are getting into this FbStart programme. Earlier this month, education technology startup Knudge.me got selected. Prior to that, the company selected Videovive and Partiko, both bootstrapped and based in New Delhi.
Commenting about this development, 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 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.
Outside US, India is the largest market for FbStart. According to the product partnerships team at Facebook, over 75 per cent of top-grossing apps in India get integrated with Facebook.
Founded in 2015, Coutloot is an online marketplace for both men and women to buy and sell used branded and designer fashion. The platform operates various categories, from clothes to bags to shoes and to accessories.