Seven months after lunch, Romanian start-up Flip.ro receives a quarter million euro from 2 investment funds and a group of private investors. Flip.ro is the website that helps people sell their old phones in a simple manner and to safely buy a second-hand checked and refurbished phone.
The investment is lead by Gapminder VC, the financing round having as participants V7 Capital and a group of private investors. This is the second investment round Flip raises, with the first one, announced in November 2019, being of €120,000
With this financing, we aim to double the objectives for 2020. On medium and long term we wish to be leaders on second-hand and refurbished electronics market in Romania, to consolidate the position and then to bring our product at international level. We are focusing our efforts to provide an good as possible experience to our buyer and seller clients
In May, Flip announced that over 1,300 users already acquired a phone via the platform, and that over €250,000 were paid towards the sellers that sold their phones on the platform.
Flip continued to have a supported growth both during the acceleration program Techcelerator, but also after. Even during this unpredictable period, the team surpassed the business objectives, reasons why we chose to continue the investments and even to lead the round
Co-founder Techcelerator & partner GapMinder VC
We chose to invest again in Flip due to their capacity to execute and to adapt to the market conditions, as we see it in the next years. We believe a lot in the project and in the team
Co-founder V7 Capital