Cartlow, a cloud-based logistics technology platform in the UAE and Saudi Arabia, has raised $18 million in a growth financing round that will help it expand its operations in the region’s two biggest economies.
The funding will enable Cartlow to further mature its business ecosystem in the region by combining return management, recycling and re-commerce through technology, it said in a statement on Wednesday.
“The investment will help take Cartlow to the next level,” Mohammad Sleiman, founder and chief executive at Cartlow, said. “Our aim is to continue to drive innovative technology within the reverse logistics landscape across the region.”
Cartlow’s partner, Al Sulaiman Group (ASG), a Saudi Arabia-based investor with interests in sectors including omni-channel retail, logistics and e-commerce, led the financing round.
The fresh capital will allow the company to further boost its efforts to decarbonise the economy, the statement said.
“Our investment in Cartlow further highlights our commitment to the kingdom’s 2030 Vision sustainability targets through enhancing the circular economy and eliminating waste in value chains,” Saud Al Sulaiman, chief executive of ASG, said.
Cartlow, which began as a re-commerce platform, has grown to become a technology company that offers software-as-a-service (SaaS) solutions to major companies in the reverse logistics ecosystem.
Reverse logistics refers to chains that process anything returning through the supply chain, reusing of products and materials.
The company has handled more than 25 million units and saved more than 10 million tonnes of e-waste since its inception, it said.
The global reverse logistics market is projected to reach $958 billion in 2028, at an aggregate annual growth rate of 5.6 per cent, from $635bn in 2020, according to a report by Allied Market Research. The Middle East reverse logistics market is largely untapped and Cartlow plans to increase its market share through the new funding round.
“The investment will help take Cartlow to the next level. Our aim is to continue to drive innovative technology within the reverse logistics landscape across the region”
Mohammad Sleiman,
founder and chief executive, Cartlow
Since launching operations, Cartlow has worked closely with major brands and retailers in the UAE and Saudi Arabia, providing them technology solutions for returns management, warranty management, buy-back and trade-in programmes.
The company said its re-commerce platform for consumers and businesses offers merchandise at cheaper prices on a range of products.
Cartlow was among six venture companies that were granted licences by Saudi Arabia in March. These companies have committed to invest a combined $162m in the Saudi economy, the kingdom announced during the Global Entrepreneurship Congress in Riyadh.
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
How to wear a kandura
Dos
- Wear the right fabric for the right season and occasion
- Always ask for the dress code if you don’t know
- Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
- Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
- Wear hamdania for work, always wear a ghutra and agal
- Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying
What are the main cyber security threats?
Cyber crime - This includes fraud, impersonation, scams and deepfake technology, tactics that are increasingly targeting infrastructure and exploiting human vulnerabilities.
Cyber terrorism - Social media platforms are used to spread radical ideologies, misinformation and disinformation, often with the aim of disrupting critical infrastructure such as power grids.
Cyber warfare - Shaped by geopolitical tension, hostile actors seek to infiltrate and compromise national infrastructure, using one country’s systems as a springboard to launch attacks on others.
Killing of Qassem Suleimani
Tamkeen's offering
- Option 1: 70% in year 1, 50% in year 2, 30% in year 3
- Option 2: 50% across three years
- Option 3: 30% across five years
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en
