ToysReloved closes €425,000 round above its original target
The Berlin toy resale company exceeded its €350,000 fundraising target.
ToysReloved has closed a €425,000 financing round, exceeding its original €350,000 target. Berlin Angel Fund and entrepreneurs including Albrecht von Sonntag and David Pohlmann joined the investor group, founder Bennet Goerlitz said.
The company manages the work behind secondhand toy sales, from checking products to pricing and distribution. Its next challenge is handling larger volumes without letting the cost of processing individual items overwhelm their resale value. The financing brings experience in ecommerce, technology and scaling to a business that combines software with hands-on operations.
Use of funds
Increase processing capacity and standardise operations.
Develop Reloved OS and automate product recognition, pricing and stock management.
Expand sales through community and partner networks.