Vintage Cash Cow has bagged expert backing and investment from Just Eat, Treatwell, We Transfer and SoWifi founders.
The Leeds-based company, which is an ecommerce platform for vintage items, has secured a seed funding round from a consortium of well-known online entrepreneurs.
The investor team includes Laurens Groenendijk, co-founder of Just Eat, and co-founder of Treatwell.com, Bas Beerens founder of WeTransfer, Daan Donders founder of SoWifi, and four 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.
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,” he said.
“I have full confidence in the founding team’s vision and the market opportunity for the company.”
Investor Daan Donders said: “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.
The site deals with a common problem in the traditional vintage marketplace, which is that consumers need to list all their items one by one, take photos, deal with questions and non-paying buyers.
Vintage Cash Cow covers the cost of postage or doorstep collection and then assesses 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.
In order to serve its 15 per cent 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.
“The goal of Vintage Cash Cow is to put an end to homes filling up with valuable clutter,” says Vintage Cash Cow co-founder David Weaver.
“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.”
Fellow co-founder Antony Charman said: “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.”