- London-based Vinterior raised £ 8million ($ 11million) in a Series A round.
- The startup enables companies to sell high-quality vintage furniture and decorations to consumers.
- European ‘circular economy’ startups have attracted $ 248 million in venture capital so far this year.
- See more stories on the Insider business page.
Vinterior, an online marketplace that makes it easy to buy and sell vintage furniture and decor, has raised £ 8million ($ 11million).
The London-based startup, founded in 2016, selects independent sellers based on a due diligence process that assesses the quality of their products and feedback from previous clients.
The startup’s founders argue that the market is fragmented between “fast furniture” – akin to fast fashion – and vintage enthusiasts who spend hours shopping in stores for hidden gems.
Founder Sandrine Zhang Ferron experienced this during a move, that’s when she decided to quit her job in finance to launch the startup.
After spending three months in a coding class where she met co-founder Leslie Fournier, Zhang Ferron started Vinterior with a homemade website.
“Half of this market is dominated by big players who sell fast furniture, it’s mass produced,” Zhang Ferron told Insider. “Furniture and interiors can be very unnecessary. It uses a lot of resources, a lot of shipping. Today’s customers are increasingly concerned about responsible shipping.
The startup joins a host of other pioneers of the circular economy, encouraging the reuse and reuse of goods instead of a throwaway culture. It also operates a current craze for mid-century and vintage furniture.
European circular economy startups drew $ 248 million from venture capitalists in August, while their U.S. counterparts took in $ 116 million, according to Pitchbook data. The figures stood at $ 180 million and $ 330 million respectively in 2020.
Vinterior lists 1,800 resellers in 30 countries, with around 35% of those applying unapproved, according to Zhang Ferron.
“It starts with selecting the right dealers, and for us it’s about having dealers who can bring a truth of high quality vintage product and who share our desire to provide excellent service to their end customers,” said she declared.
“Most of the time with the dealers, they are passionate about the job and they came to us with that passion. “
Series A, led by Active Partners, the backers of healthy fast food chain Leon and event company Secret Cinema, will be used to evolve the startup’s marketing, product and engineering teams. .
He plans to develop additional business features for sellers, help them with taxes, and expand in Europe. Vinterior hopes to be the European leader in this space within two years, starting with France.
Currently a team of 42, Zhang Ferron expects the workforce to reach 100 by 2023.
The latest round brings the startup’s total raised to 12 million pounds ($ 16 million).
Check out Vinterior’s pitch deck below.