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Camlist, a pet video marketplace, raises about 140 million yen in pre-seed funding and aims to grow in the UK | Today Nation News

TechnologyCamlist, a pet video marketplace, raises about 140 million...

Camlist, a video marketplace for pets, has raised $ 1.3 million in a pre-seeded round. The funds will be used to develop the platform and increase the number of employees, aiming to expand the business in the United Kingdom, which is the second market after the United Arab Emirates, which entered the market in early 2021.

Unlike other marketplaces, Camlist (from the camera listing) allows you to post videos of the pets you want to sell, and once you get in touch, buyers and sellers use both video and text chat within the app. Can be exchanged.

At the marketplace, only pets can be listed for now, but it will be expanded to other products in the near future.

“Classifieds, or P2P commerce, have been sticking to the old way since eBay came out. There haven’t been any major innovations since then, just images and phone numbers,” Camlist said. Co-founder and Chief Executive Officer Mustafa Mahmoud said.

“But Camlist is trying to change that, turning the marketplace into a video experience, because every property has a story.”

Mahmood also guarantees verified health checks and interest-free loans in partnership with third parties for those who cannot pay in one lump sum so that everyone can find their pets safely. Camlist has so far connected more than 6,000 pets to new owners.

“Our in-app GMV (total distribution transaction) is growing 100% every two quarters, so it’s doubling every quarter, with a total GMV of about $ 2 million a month. ), “Mahmud said.

The Y Combinator company was founded and started operations in Dubai, United Arab Emirates, in 2020, just before the outbreak of the new coronavirus pandemic. As a result, people who were forced to stay home, some bored, but had more time to take care of them, began to buy pets and the site became popular.

“We are building marketplaces by category, but we feel that pet listings are very large and not well serviced. We will expand to a variety of items as we grow. “We plan to do so,” said Mahmood, a computer scientist.

Another co-founder is Chief Product Officer Maha Refai. She has 16 years of experience in building and expanding digital products. She is also the creator of MBC’s (Middle East’s largest free-to-air broadcaster) premier video platform and several other video streaming products.

Camlist’s Chief Technology Officer, Alsayed Gamal, has 15 years of software engineering experience. He has knowledge and experience in mobile platforms, data engineering, DevOps, API design, microservices, and serverless architecture.

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Mahmud said he had to counter the nasty experience of misrepresenting products and fraudulent purchases when making purchases through classified sites in Dubai, United Arab Emirates. It is said that it was an opportunity to start.

Camlist Chief Executive Officer Mustafa Mahmoud has co-founded the Video Marketplace with the company’s Chief Product Officer Maha Riffi and Chief Technology Officer Alsaid Gamal.

In Dubai, the city of expatriates, classified sites are popular because they are used to dispose of luggage, but they also provide an opportunity for scammers to target unprotected people. To handle this situation, Camlist allows in-app payments. The money will be paid when the purchaser confirms that the pet has been received. This feature prevents fraudsters pretending to be vendors and prevents buyers from being scammed.

Mahmood and his other co-founders offer a marketplace where buyers can experience the items they are interested in on video before making a purchase. This is in addition to ensuring that buyers are protected from fraudulent tactics and of high quality service.

The company is also closely following up on whether the sellers on the platform are raising and breeding pets in a healthy environment, vaccination, deworming, and wearing microchips.

“We also support buyers and sellers by providing free vaccinations, microchips, anthelmintics, insurance and pet food. We strive to provide the best experience for buyers and sellers. “I am,” he said.

The startup includes Y-Combinator, technology startup accelerator Act One Ventures, early stage venture funds, and Houseparty, Mux, Facebook, and more. Raised new funds from angel investors.

“We were looking forward to investors who believed in the vision of building the marketplace of the future, and those who believed in this vision and actually worked in the video industry and built applications. I was really lucky to get it, “said Mahmood.

After its success in the UK, Camlist plans to enter the US market. I am convinced that this will be a huge and important market for them.

“Because the UK is a fairly large market, our current situation is expansion within the UK. Here we can also see the repercussions of what we are doing, but to occupy the majority of the market. We plan to start expanding into the United States when we reach a certain stage, “says Mahmood, who was born in Egypt and moved to Dubai with his family at the age of six.

Image credit: Camlist

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(Sentence: Annie Njanja, Translation: Akihito Mizukoshi)

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