Secondhand furniture is set to become a $16 billion market. Check out the pitch deck vintage furniture startup Vinterior used to raise $11 million from investors.
This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now.
- London-based Vinterior has raised £8 million ($11 million) in a Series A round.
- The startup enables businesses to sell high-quality vintage furniture and decor to consumers.
- European ‘circular economy’ startups have lured $248 million from VCs so far this year.
Vinterior, an online marketplace that makes it easier to buy and sell vintage furniture and decor, has raised £8 million ($11 million).
The London-based startup, founded in 2016, hand-picks independent sellers based on a due diligence process that evaluates the quality of their products and previous customer feedback.
The startup’s founders argue the market is fragmented between “fast furniture” – akin to fast fashion – and vintage lovers who spend hours looking in stores for hidden gems.
Founder Sandrine Zhang Ferron experienced this firsthand when moving house, which is when she decided to quit her job in finance to launch the startup.
After a three-month stint on a coding course where she met cofounder Leslie Fournier, Zhang Ferron launched Vinterior with a homemade website.
“Half of this market is dominated by big players who sell fast furniture, it’s mass produced,” Zhang Ferron told Insider. “Furniture and interiors can be quite wasteful. It uses a lot of resources, a lot of shipping. Customers today are more and more conscious about shipping responsibly.”
The startup joins a host of others pioneering the circular economy, encouraging the reuse and repurposing of goods instead of a throw-away culture. It also taps into a current craze for mid-century and vintage furniture, with Insider’s Jennifer Ortakales Dawkins reporting that the secondhand market could be worth above $16 billion by 2025.
European circular economy startups have lured $248 million from venture capitalists, as of August, while their US counterparts have landed $116 million, according to Pitchbook data. The figures stood at $180 million and $330 million in 2020, respectively.
Vinterior lists 1,800 dealers across 30 countries, with around 35% of those who apply not approved, according to Zhang Ferron.
“It starts with selecting the right dealers, and for us it’s about having dealers who can bring a verity of product which are high quality vintage and who share our drive of providing a great service to their end customers,” she said.
“Most of the time with dealers, they are passionate about the trade and they came to us with that passion.”
The Series A, led by Active Partners, backers of healthy fast-food chain Leon and events company Secret Cinema, will be used to scale the startup’s marketing, product and engineering teams.
It plans to build out additional business features for sellers, to help them with the likes of taxes, and expand into Europe. Vinterior hopes to be the European leader in this space within two years, starting with France.
Currently a team of 42, Zhang Ferron expects headcount to be at 100 by 2023.
The latest round brings the startup’s total raised to £12 million ($16 million).
Check out Vinterior’s pitch deck below.