We’re happy to announce that Swap.com, the largest online consignment store for kids’ items, today received an additional $4 million in funding from our current investors, Cleantech Invest Plc. (Nasdaq: CLEAN), Ari Hypponen (first employee at FSecure Corporation), Ahti Heinla (Skype founding engineer) and Jaan Tallinn (Skype and Kazaa founding engineer), among others.
Also investing in Swap.com and joining our Board of Advisers is Marc Onetto, former Senior Vice President of Worldwide Operations and Customer Service at Amazon.com from 2006 to 2013, and member of the board at Flextronics, the global electronics manufacturing services company.
“Swap.com delivers an outstanding experience for the customers in terms of item quality and ontime delivery, which is unparalleled in the consignment store business. This is the foundation of their explosive growth and they have the potential to become a hundred billion dollars company.” Marc says.
We are tremendous fans of how Amazon.com does business, and with Marc’s expertise from his experience in arguably the most efficient and customer focused e-commerce company around, operations and customer service, we will be able to maintain our high level of customer satisfaction as we continue to grow and lead the consignment industry through 2015 and beyond.
What This Means for Our Customers
Over the past year, Swap.com has become the largest online consignment store for kids’, baby and maternity items. As we continue to establish ourselves as the leader in the online consignment space, this additional funding is going to allow us to invest more aggressively in our infrastructure, team and product to produce the best possible experience for our users.
“The consignment model combined with our extremely efficient fulfillment services provide both Sellers and Buyers the best possible deal: Sellers get most value from their unused items while Buyers get great products at astonishing prices.” – Juha Koponen, CEO.
Since we launched in early 2013, we have moved from a 6,000 sq ft space in Addison, IL, into our current 66,000 sq ft fulfillment center in Bolingbrook, IL. There are now over 160,000 items that sellers have listed on Swap.com, and we are adding an average of 50,000 new items every month.
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