Tradeblock, a Houston, TX-based sneaker trading platform based on a barter economy and the prowess of community, raised over $8.9m in funding.
Backers included Courtside VC, Trinity Ventures, and Concrete Rose Capital.
The company intends to use the funds to further invest in growth in its sneaker business as well as expanding and improving its authentication and logistics operation, which involves inspecting and authenticating shoes from both sides of the trade simultaneously in a complex and interconnected process. Additionally, Tradeblock will be investing in more data science capabilities to enhance the customer experience as it continues to define the virtual bartering experience by developing the marketplace further.
Launched in 2020 by CEO Mbiyimoh Ghogomu, Darren Smith and Tony Malveaux, Tradeblock is a social marketplace for sneakerheads that facilitates barter-based sneaker trades. The app has facilitated thousands of trades with a community of more than 250,000 users and over a million sneakers available for trade on the app.
FinSMEs
25/08/2022