Swap.com, a Chicago, IL-based pre-owned online store for women, men and children, raised $20m in funding.
The round was led by eEquity, a Swedish private equity company specializing in Internet retailing, with participation from three other investors.
The company, which has raised more than $50m in total equity funding, intends to use the funds to continue to build the brand, ramp up recruitment for both the Bolingbrook and Chicago offices and increase efficiency in the fulfillment center.
Led by Juha Koponen, CEO & Co-Founder, and Rich Lesperance, CMO, Swap.com offers a broad selection of everyday brands and products for the whole family (clothes, accessories, toys and games for babies, children, women and men) through a logistics center and proprietary technology. Sellers print out a pre-paid label, pack their box and send it to Swap.com. From there, the company handles everything from merchandising to marketing and posting online. Each item at Swap.com is inspected, evaluated and vetted prior to posting on the website. The platform currently boasts an inventory of 1.5 million unique items from clothing to sporting goods and toys.
The company operates in Bolingbrook, Illinois at a warehouse of 360,000 square feet, and a recently opened a downtown Chicago office to accommodate the marketing team.