Vintage Cash Cow based in Leeds have announced today that they’ve secured a seed funding round from a consortium of well known online entrepreneurs.
The investors team includes Laurens Groenendijk Co-founder of Just-Eat.com and Co-Founder of Treatwell.com, Bas Beerens Founder of WeTransfer, Daan Donders Founder of SoWifi and 4 others.
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 are the first online platform to make selling vintage items easy and free. The problem with the traditional marketplaces is that consumers need to list all their items one by one, take photos, deal with questions and non-paying buyers.
Vintage Cash Cow cover 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 startup has a 10,000+m² facility in the heart of the city. In order to serve the 15% growth rate every month the company already has over 20 employees including a team of experts with vast knowledge in all things vintage to carefully assess the products that arrive.
Co-founder Antony Charman and his team of experts wealth of experience in buying and selling is essential in this type of business. Customers must trust that they’re getting a fair price and with over 1,000 5 star reviews on TrustPilot it’s fair to say they’re doing a good job.
“The goal of Vintage Cash Cow is to put an end to homes filling up with valuable clutter.” Says David Weaver, Co-Founder. “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.”
Antony Charman, Co-Founder says Vintage Cash Cow’s growth: “Has been driven by increasing demand for easy, free and fast ways to make money online. 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.”
After successfully launching and scaling up companies Just-eat and Treatwell, investor Laurens Groenendijk has said he’s looking forward to the challenge. “Buying products directly from the public creates new and exciting challenges compared to my previous companies. I have full confidence in the founding team’s vision and the market opportunity for the company.”
Daan Donders says: “Vintage Cash Cow have proven a lot in their first year and have quickly established trust amongst their customers. We see them as a disruptor of the traditional auction house and to sites like eBay and Gumtree where people need to sell things one by one. Our investment and support will help Vintage Cash Cow take their service to a global audience very quickly.
To see how the service works watch Vintage Cash Cow’s new videos here:
How the service works: https://www.youtube.com/watch?v=Qz3eo3wH3Lo
What happens when the box arrives?: https://www.youtube.com/watch?v=jnc5MNuTB-4