Prague-based Bookbot, an online platform specialising in second-hand books, announced that it has secured €4M in a Series A round of funding, at a valuation of over €20M.
The round was led by new investor Genesis Growth Equity Fund I, with participation from existing shareholder Miton.
Dominik Gazdoš, CEO of Bookbot, says, “We are convinced that in order to create a first-choice product for second-hand goods on the market, we have to be radically customer-centric. That is why we spend a lot of time speaking with our customers to identify practical and innovative technical solutions that make our service as comfortable and easy as possible.”
“We are readily equipped to accelerate growth in the DACH market and beyond and will do so through systematically erasing the pains often falsely associated with second-hand by creating a top-notch customer experience. We’re happy to have the support of Genesis and Miton on this journey.”
Giving books a second life
Founded in 2019 and led by CEO Dominik Gazdoš, Bookbot sells second-hand books, ensuring that unwanted books quickly find new readers and owners. Its offerings include literary classics, bestsellers, rare finds, cult comics, young adult novels, and specialist publications.
Bookbot carefully photographs each book in high quality so customers can easily assess their condition. With an organised inventory, they can prepare books for viewing or ship them immediately.
As reported in EU-Startups, Bookbot provides two alternative methods for customers to hand in their used books. In Vienna, they partner with Thalia, Europe’s top book retailer, where customers can drop off their books at Thalia stores.
Additionally, in both Vienna and Berlin, Bookbot offers the “Book-Bote” service, which arranges home pick-ups during selected time slots, in collaboration with sustainable urban logistics expert DODO.
Reportedly, Bookbot anticipates doubling its revenue to €24M by the end of 2024, with the DACH market projected to account for 50 per cent of the company’s total revenue in 2025, just two years after its launch in the region.
Capital utilisation
In a LinkedIn post, Bookbot says, “We’re ready to speed up our growth in the DACH region and beyond! Since starting in Prague in 2019, we’ve become the biggest seller of second-hand books in Czechia, expanded to Slovakia in 2022, and now we’re in Austria and Germany too!”
“We’ve sold over 5 million books, with more than 750,000 shipped to our DACH warehouse, and things are really taking off!” adds the company.
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