Netcycler operates an online swapping site that links users who want to trade unwanted items using an algorithmic "trade rings" system that connects 3-4 participants. The platform combines social networking and smart matching to increase successful swaps and positions itself as a European competitor to US-based Swap.com. Since launch, the service reports over 27,000 registered users, 10,000 items traded, more than 28,000 items listed and over 39,000 swap requests. The company launched first in Finland in March 2010, expanded to Germany a few months later, and has introduced the service in the UK. Netcycler was founded in February 2008 and is described as a Finnish startup. In terms of financing, it has secured seed/angel capital alongside public funding to support its growth and geographic expansion.

Total raised

$3M

Funding rounds

2

Latest round

Seed

Latest activity

May 2011