Stc’s Tali Ventures Invests US$10M in NorthLadder’s Series B

Stc Group’s venture capital arm, Tali Ventures, has led a US$10 million Series B funding round for NorthLadder, a device trade-in platform operating in over ten countries. The investment round also included contributions from the Dutch Founders Fund and Crescent Ventures. 

The investment will support NorthLadder's international growth and continued development of its trade-in platform. 

Over the past 18 months, NorthLadder has become a prominent player in device trade-ins, working with telecom companies, retailers, e-commerce platforms, and Original Equipment Manufacturers (OEMs). The company has launched a range of trade-in services and recently established operations in Amsterdam, with plans to expand its partnerships across Europe. 

Saudi Telecom Company Group (stc Group), a regional digital services provider, launched Tali Ventures earlier this year to pursue investments in high-growth companies, aligning with its goal of advancing digital transformation and promoting sustainable growth. 

The pre-owned smartphone market is projected to grow three times faster than the new smartphone market over the next five years, and NorthLadder, with its current offerings, is positioned to meet this demand. 

NorthLadder co-founder and CEO, Sandeep Shetty, who previously served as the managing director of Careem’s ride-hailing business, which was acquired by Uber in 2019 for $3.1 billion, is optimistic about the impact of the latest funding round for NorthLadder. He said, “We are excited to bring a disruptive, world-class product that supports the circularity goals of our partners. Device trade-ins is a global business, and our objective is to provide a world-class platform offering the best residual values worldwide through our unique auction system.” 

Majed I. Aljarboua, corporate fund and entrepreneurship GM at stc, said “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.” 

Laurens Groenendijk, founding partner of the Dutch Founder’s Fund, and the entrepreneur behind ventures like Just-Eat, Treatwell, Miinto, and nano-satellite challenger Hiber, said, “NorthLadder represents a game-changing approach to the resale of pre-owned electronics, combining innovation with a deep understanding of customer needs. As an investor, I see NorthLadder as a company poised for remarkable growth, with its commitment to transparency, trust, and sustainability at the core of its success. By providing a secure platform that maximizes value for users, NorthLadder is not only transforming the resale market but also playing a critical role in the shift towards a more circular economy.”.