Berlin-based , an AI-powered second-hand shopping assistant company, announced that it has secured €3M in a pre-seed round of funding. The investment was led by the , a European climate VC. The round also saw participation from Accel, General Catalyst, Lightspeed Venture Partners, NEA, and Northzone, via the Slush 100 Startup Prize, as well as Impact Shakers.
The deal includes €1M from the World Fund, €1M from Slush VCs, and €150K from Impact Shakers. Additionally, the total €3M includes an initial €750K invested by BackBone Ventures, Earlybird, and Minc accelerators, along with Peak Capital and angels from Atomico in November 2022. Tim Schumacher, General Partner at World Fund, says, “We see immense potential in Faircado’s mission to accelerate the transition to a circular economy.
” “Simply put; our society buys too much stuff, while our basements, bookshelves and closets are full of exactly the stuff other people want. At the same time, we tend to forget about this fact, which is why I love when Faircado automatically tells me while shopping on Amazon for example that “wait a minute, here’s the same stuff used, in great condition, yet 80 per cent cheaper”’. Capital utilisation The funds will support Faircado in expanding its team, entering new markets in the UK and France, and advancing its image recognition technology.
Evoléna de Wilde d‘Estmael, co-founder and CEO of Faircado, says, “World Fund is an ideal partner for Faircado. Their expe.