Online entrepreneurs provide funding boost for platform that is pure vintage
AN ONLINE platform selling vintage items has secured the backing of some big name online entrepreneurs.
Leeds-based Vintage Cash Cow has secured a seedfunding round from a consortium including Laurens Groenendijk, co-founder of Just-Eat.com, and Bas Beerens founder of WeTransfer. The funds invested by the group are being used to scale up the operation in the UK. A further round of funding will be raised to drive growth across Europe next year.
Vintage Cash Cow looks to make selling vintage items online easy and free.
The business covers the cost of postage or doorstep collection and then assess the box of items when it arrives at their facility. An offer is made for the box, allowing the customer to choose from an immediate payment or they decide to have their items returned for free.
The Leeds-based start-up has a 10,000 sq m facility in the heart of the city. In order to serve the 15 per cent growth rate every month the company already has over 20 employees including a team of experts with knowledge in all things vintage to carefully assess the products that arrive.
David Weaver, co-founder of Vintage Cash Cow, said: “The goal of Vintage Cash Cow is to put an end to homes filling up with valuable clutter. This funding means we can create awareness of our service and show people how easy it is to unlock the cash tied up in their homes.”
Co-founder Antony Charman says Vintage Cash Cow’s growth has been driven by “increasing demand for easy, free and fast ways to make money online”.
He added: “Traditionally, there’s been a stigma around selling things online. It was difficult to trust people and there are usually hidden costs and fees. I wanted to change all that.”
Investor Laurens Groenendijk said: “Buying products directly from the public creates new and exciting challenges compared to my previous companies.” He added that he has full confidence in the founding team’s vision.