Vintage Cash Cow聽has bagged expert backing and聽investment from Just Eat, Treatwell, We Transfer and SoWifi founders.
The Leeds-based聽company, which is an聽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聽Just Eat,聽and co-founder of聽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鈥檚 looking forward to the challenge.
鈥淏uying products directly from the public creates new and exciting challenges compared to my previous companies,鈥� he said.
鈥淚 have full confidence in the founding team鈥檚 vision and the market opportunity for the company.鈥�
Investor Daan Donders said: 鈥淰intage Cash Cow have proven a lot in their first year and have quickly established trust amongst their customers.
鈥淲e 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.
鈥淥ur investment and support will help Vintage Cash Cow take their service to a global audience very quickly.
The site deals with聽a common聽problem in the traditional vintage聽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,鈥� 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: 鈥淭raditionally there鈥檚 been a stigma around selling things online.
鈥淚t was difficult to trust people and there are usually hidden costs and fees. I wanted to change all that.鈥�