On­line en­trepreneurs pro­vide fund­ing boost for plat­form that is pure vin­tage

Yorkshire Post - Business - - FOCUS ON SMES -

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.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.