Swap.com operates a pre-owned e-commerce marketplace that sources items from sellers who print a pre-paid label, pack and ship to the company, which then handles merchandising, marketing and listing via proprietary technology. The platform inspects, evaluates and vets each item prior to posting and currently holds an inventory of about 1.5 million unique items spanning clothing, sporting goods and toys. Swap.com runs a 360,000 square-foot fulfillment warehouse in Bolingbrook, Illinois, and recently opened a downtown Chicago office to house its marketing team. Management is led by Juha Koponen (CEO & Co‑Founder) and Rich Lesperance (CMO). The company intends to use the new capital to continue building the brand, ramp up recruitment in its Bolingbrook and Chicago offices, and increase efficiency in its fulfillment center. To date the company has raised more than $50 million in total equity funding. Swap.com operates an online consignment platform for pre-owned goods and is focused on building a highly efficient item-handling operation. Management says the company has grown on average 15% per month for two years and has an annualized revenue run rate of USD 7.5 million. The company recently moved to a new 360,000 sq ft fulfillment center with capacity to reach about USD 200 million in annual revenue. Swap.com's CEO states their unit handling costs are the lowest in the market, positioning them to pursue category leadership in online consignment. The business emphasizes operational efficiency as the core competitive advantage and plans to scale throughput in the larger fulfillment facility. Swap.com (Netcycler Oy) operates an online consignment marketplace in the USA for buying, selling and swapping pre-owned items. The company positions its user experience and operational effectiveness on par with online stores selling new items. Swap.com reports strong consumer demand and describes itself as the fastest growing online consignment store in the USA. Management says the recent capital will enable expansion of operations according to its growth plan. Financially, Cleantech Invest Swap SPV 1 AB made an equity investment of EUR 4.2 million into Swap.com. After the transaction, Cleantech Invest Plc's effective fully diluted ownership in Swap.com increased and Cleantech Invest and its affiliates hold a meaningful minority stake. Swap.com (Netcycler Oy) operates an online consignment marketplace where sellers send goods to the company, which then photographs, lists and handles logistics while buyers can order multiple items in one delivery. The service aims to bring the user experience and operational effectiveness of new-item online stores to pre-owned goods. The company’s current focus is kids' clothing and items, and it is the biggest kids' online consignment store in the USA. Swap.com reported monthly revenue of $218,000 in October 2014, having increased monthly revenue more than tenfold over the prior 12 months. The company recently expanded into a new fulfillment center and offers a selection of over 150,000 items. Cleantech Invest described Swap.com as an ultra-scalable business that improves resource efficiency and expects the company to pursue category leadership in online consignment.

Total raised

$31M

Funding rounds

4

Latest round

Equity

Latest activity

Dec 2016