Reliving, a Dutch second-hand platform for furniture and home accessories, has raised raised almost 1.4 million euros in additional capital to nurture its European growth ambitions.
More than hoped for
Initially, Reliving went looking for 1.25 million euros, but it ended up finding more than expected. Through crowdfunding, the start-up raised almost 700,000 euros from mostly private investors. The goal was to bring in 500,000, but that has been surpassed. The current investors in the company have additionally invested 700,000 euros themselves.
Those who subscribed to the crowdfunding receive a convertible loan: investors can choose in three years’ time whether they want their loan back, or convert it into shares. To give the crowdfunding a final push, last week investors received a gift card included. Reliving operates a webshop, but also previously had a pop-up shop in Rotterdam’s Bijenkorf department store.
With the money, Reliving aims to become “Western Europe’s largest quality interior marketplace”. The European second-hand furniture market is currently growing by as much as 30 % a year, in line with the growth rate of the overall second-hand market. By 2028, Reliving aims to reach sales of around seventy million euros in the Netherlands and Belgium, the two markets where it already operates, and achieve a 10 % net profit margin. By 2025, the platform also wants to break even. Initial investments will be made mainly in web development, marketing and customer service.