Greece-based Vendora raises fresh funds for its second-hand shopping marketplace

Athens-based Vendora, a company that claims to be Greece’s top marketplace for secondhand goods, announced on Wednesday that it has secured a multimillion-euro funding. The exact amount has not been disclosed.

The funding came from Vendora’s existing investors and was led by Dutch venture capital firm No Such Ventures alongside Bucephalus and Great Stuff Ventures. 

No Such Ventures have tripled its own total investment in the company since the last round. Founded in 2018, the Amsterdam-based firm usually invests between €2M and €8M in growth companies.

Reinder Lubbers, manager-founder of No Such Ventures, says, “We have only seen our assurance in Vendora grow over the past three years. Their rise coupled with continuous innovation is a fantastic match for our strategy of supporting ambitious teams aiming to lead the sector.”

A marketplace to buy and sell almost anything

Founded in 2017 by Robin Schuil, Vendora has established itself as Greece’s “premier” horizontal classifieds marketplace, offering a wide range of commodities in a variety of categories.

The company provides a platform for individuals and organisations to purchase and sell new and used products and services. 

Vendora’s customer-centric strategy, combined with sustainable practices, strives to reduce waste and promote resource reuse. The company’s collaboration with sustainable logistics supplier BoxNow underscores its dedication to environmentally responsible practices.

The company says it has distinguished its online marketplace by putting a high priority on secure transactions and dependable shipment, assuring both buyer and seller satisfaction as well as top ratings for its mobile app.

Vendora launched in Cyprus in April 2023, marking the company’s first international launch, and it quickly rose to the top of the list of most-downloaded apps in that country. With the most recent grant, Vendora hopes to grow even further in the area.

Capital utilisation

Vendora says that the raised capital will help accelerate the expansion of its market reach as the top platform for secondhand products in Greece, as well as bolster the scaling of its operations.

By the end of 2024, the Vendora team aims for a broader range of products to be offered, establishing itself as a leading marketplace for used second-hand items.

Founder Robin Schuil says, “This fresh injection of funding accelerates our expansion plans and enables us to fully leverage Vendora’s advanced technological infrastructure for enhanced customer value.”

“Our commitment remains steadfast in offering exceptional experiences in the buying and selling of used goods. We look forward with confidence to executing our ambitious plans, nurturing regional growth and fostering a sustainable, circular economy,” adds Schuil.