20+ High-Growth Recommerce Startups that Got VCs Fired Up
Recommerce startups are getting VCs fired up. Even when the economy was declining and startups were struggling to secure funding, the recommerce industry seemed to float well with a record $6 billion funding in 2021.
If you’re thinking about the next ground breaking idea, recommerce might be an industry worth looking at.
Here are 25 best recommerce startups that recently made the news about their successful funding rounds. Let’s look at their value proposition, what they offer, and what to be inspired from.
1 – SnapWrite Product Digitization Technology
One of the key challenges in recommence is to create detailed product listings from items whose details have been lost.
SnapWrite is an image to text AI tool that helps pre-loved brands expand their inventory faster by automating this process for them.
It aims to serve as a product digitization tool not just for pre loved brands but also for retailers. When a product is digitized at the source, it helps create circularity for those items.
SnapWrite AI, as a participant in the FounderFuel 2023 cohort, secured a seed funding round that included a $120,000 CAD investment.
This funding, provided by a collaboration of Real Ventures, Panache Ventures, and Inovia Capital, represents not just financial support but also an equity stake in the company.
This investment is a significant boost for SnapWrite AI, enabling them to further develop their innovative technology and expand their market presence in the recommerce sector.
2 – Reverse.supply White Label Resale Platform
Reverse.Supply is a recommerce company that provides a white-label solution to help fashion brands enter the circular economy.
They offer a Circular-Retail solution, enabling brands to tap into the secondhand market of their products through their own brand shop. Reverse Supply supports brands from software integration to logistical handling.
Their approach emphasizes sustainability, EU policy compliance, strengthening consumer-brand relationships, and creating an additional revenue channel.
They raised 5M euros in seed round in Q2 of 2022.
3 – Arrive Recommerce White Label Recommerce Platform
Arrive offers a white-label recommerce solution to transform returns into revenue for brands. They specialize in managing non-salable returns by refurbishing, grading, and fulfilling orders, thus creating a sustainable resale channel.
Their platform provides a branded resale experience, operational support, analytics, and growth assistance, helping brands reduce costs, increase revenue, and promote sustainability.
They have been able to raise $24.8M in total funding since their inception in 2017.
4 – Mjuk – A Marketplace for Second-Hand Furniture
Buying and selling second hand furniture is a pain that anyone who has ever tried to do it can relate to. Its time consuming for sellers and difficult for buyers who have to arrange shipping for items they can’t be certain about.
Mjuk is a Finland based startup that aims to solve this challenge with its furniture resale marketplace that sells both B2B and B2C.
It was founded in 2019 and has recently raised 2.5M euros in funding that will accelerate its way to profitability and expansion in other markets.
5 – Realseller – Seller Authentication Platform
Trust and the need for authentication in resale transactions is a big challenge in recommerce.
Real Seller is a South Korean company that offers a unique paradigm for safe peer-to-peer transactions.
They provide services like RAS (Real Seller Authentication Service) and Wantit, a price comparison platform for used goods. RAS ensures 100% verification of sellers’ identities, enhancing trust in transactions.
Wantit gathers various second-hand products, enabling users to trade them quickly and safely.
They recently raised an undisclosed amount in seed funding.
6 – Subdial – Luxury Watch Resale Marketplace
Subdial operates within the recommerce sector by offering a platform for trading luxury watches, like Patek Philippe and Rolex, in a manner similar to stocks.
Subdial’s innovative model facilitates the resale of luxury watches, making them accessible as both collectible items and investment assets, thereby enhancing the circular economy in the luxury goods market.
Since their founding in 2018, they have raised 4M pounds in total funding.
Reading Suggestion: Recommerce Market Size and Billion Dollar Opportunities for Brands and Startups
7 – CompAsia – Second-Hand Mobile Phones
CompAsia is a leader in Southeast Asia’s recommerce market, focusing on the resale of second-hand mobile devices.
Their innovative approach extends the lifecycle of electronic devices, helping to reduce e-waste.
They offer services like device trade-in and financing, supporting sustainable electronics consumption.
Recently, CompAsia secured $25 million in their Series A funding round led by Gobi Partners.
This investment is earmarked for expanding their market presence, enhancing human resources, and boosting operational capabilities, reinforcing their position as a key player in the recommerce sector.
8 – Soum – Pre-Owned Electronics
Soum, a Saudi Arabian startup, specializes in the recommerce of pre-owned electronics. They focus on ensuring an efficient and trustworthy buying and selling process.
In a significant development, Soum raised $18 million in a Series A funding round. This investment will likely bolster their technological capabilities and aid in their expansion within the recommerce industry.
9 – Luxe Collective – Pre-loved Luxury Fashion
Luxe Collective is a resale platform for luxury fashion items, leveraging TikTok for brand awareness.
They’ve achieved significant growth in sales and online presence with 1.4 million TikTok followers and annual turnover of more than $5M.
The founder brothers are all set to venture into Dragon’s Den and will appear on TV on 4 Jan, 2024.
10 – Recurate – Integrated Recommerce Solution
Recurate operates as a Resale Operating System, integrating with online, in-store, and warehouse systems empowering brands and retailers to launch fully integrated resale channels, thus making resale easy and profitable.
Their technology directly integrates with a company’s e-commerce platform, simplifying the resale process. This includes features for peer-to-peer listing and shipping, taking back inventory for authentication and fulfillment, and monetizing non-new inventory like returns and samples. Recurate has raised $14 million in a Series A funding round, a significant financial boost to advance their services and impact in the recommerce market.
11 – Reboxed – Enabling Resale of Premium Refurbished Tech Products
Reboxed a London-based startup provides out of the box solutions for buying and selling premium refurbished tech products like phones and laptops, providing quality and a circular approach to consumption.
They secured €1.8 million in seed funding in November 2023.
The company, founded in 2020, aims to rehome 100 million electronic devices by 2030 to address the e-waste crisis.
They offer solutions for both consumers and retailers with the mission to create a circular economy.
Their proprietary tech, TechCheck is a unique solution that allows customers to evaluate the value of their tech in under 5 minutes. This process involves answering simple questions about the device’s condition and functionality. TechCheck gives an instant valuation and offers a hassle-free way to trade in or recycle old tech. It’s part of Reboxed’s commitment to sustainability and reducing e-waste.
12 – Treet – Branded Peer-to-Peer Resale Platform
Treet is a platform where brands can instantly get up and running with their branded peer-to-peer resale channel.
They raised $3.5 million in a seed funding round led by First Round Capital. This funding, part of a total $6.4 million raised across pre-seed and seed rounds, will enhance Treet’s team, brand partnerships, and platform features.
They currently power over 50% of all branded resale experiences and have notable partners like DÔEN and tentree.
13 – Fairlyne – Recommerce in Travel Industry
Fairlyne provides a Resale-as-a-Service platform for the travel industry, focusing on airlines, railways, and hospitality. It empowers brands with technology to resell travel bookings, adding flexibility for customers while maintaining profitability.
Founded during the Covid crisis, Fairlyne aims to solve the issue of non-refundable fares by enabling their resale. They have secured a $3M investment from top European and American VCs.
14 – Vopero – Second Hand Clothing eCommerce App
Vopero, a resale platform in Latin America, recently raised $4 million, contributing to a total of $10 million in venture-backed funding.
The company focuses on second-hand clothing and accessories resale, and operates primarily through its app.
Vopero has processed over 1 million garments and achieved annual sales exceeding $5 million. The new funding will be used for growth, franchising, and increasing brand awareness, including expansion in Chile and establishing physical store franchises.
15 – Nok – Reverse Logistics System
Nok operates as a circular system for reverse logistics and multi-channel resale. It offers software and facilities for return processing, refurbishment, recycling, and resale of products, serving durable brands and retailers.
This system aims to streamline and optimize the lifecycle management of products, contributing to sustainability and efficiency in the recommerce sector.
They have raised an undisclosed amount in Series A funding last year.
16 – Retykle – Second Hand Designer Children’s Clothing
Retykle, a Hong Kong-based kids apparel resale platform, has closed its pre-Series A funding round.
This round was led by Singaporean venture capital firm Pine Ventures and included participation from angel investors, bringing the total funding to US$2.2 million.
The funds will be used for market expansion, building the senior leadership team, and developing new ‘Resale as a Service’ technology.
Retykle has gained attention for its unique approach to sustainable fashion and reducing carbon footprints.
17 – Closetup – Second Hand Clothing
ClosetUp, a platform for buying and selling second-hand clothing, has successfully raised $235,000 in a Pre-Seed funding round.
This investment marks a significant step in the company’s growth and expansion in the second-hand clothing market, emphasizing affordable and sustainable fashion.
18 – Revive retail – B2B Resale Solution for Retailers
Revive is a B2B solution that helps retailers integrate second-hand selling into their existing online marketplaces.
As a plugin solution, it offers an integrated e-commerce experience, making the transition to resale markets effortless for retailers.
Revive provides logistics support, including shipping and handling claims, and offers insights for product development. Founded in March 2023 within the Antler startup incubator, Revive has raised $150,000 in pre-seed funding.
19 – Vintello – P2P Marketplace of pre-loved luxury fashion
Vintello is a peer-to-peer marketplace based in Bucharest, specializing in the resale of pre-loved premium fashion.
They offer a platform where users can easily and safely sell and buy fashion items.
Vintello aims to give beautiful fashion items more than one life, aligning with environmental protection goals.
They provide free listing and courier services for sellers and ensure safe payment and free returns for buyers.
Additionally, Vintello has raised a convertible note of US$ 10.9K.
20 – Truss – Resale Fashion Marketplace
Truss Archive is a luxury and archive fashion marketplace, offering a collection of curated items from top resale stores worldwide. They specialize in authentic and rare fashion pieces, providing a unique platform for enthusiasts of vintage and luxury clothing. Truss Archive also offers guides on identifying and dating vintage clothing, alongside editorial content exploring various aspects of fashion history and culture.
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