Vendora, a prominent Athens-based company asserting itself as Greece’s leading marketplace for secondhand goods, revealed the successful acquisition of a multimillion-euro funding. The precise amount of the funding remains undisclosed.
Vendora’s latest funding round was led by Dutch venture capital firm No Such Ventures, along with contributions from Bucephalus and Great Stuff Ventures, all of whom are existing investors of the company.
Notably, No Such Ventures significantly increased its total investment in the Greece company, tripling its previous commitment to the company. Founded in 2018 and based in Amsterdam, No Such Ventures typically invests between €2M and €8M in companies that show strong growth potential.
Reinder Lubbers, the manager-founder of No Such Ventures, expressed unwavering confidence in Vendora, citing the remarkable progress the company has made in the past three years. Vendora’s continuous innovation aligns perfectly with No Such Ventures’ strategy of supporting ambitious teams aiming to lead their respective sectors.
About Vendora
In 2017, Robin Schuil founded Vendora, which has since emerged as Greece‘s leading horizontal classifieds marketplace, encompassing a diverse array of products and categories.
The platform facilitates transactions between individuals and organizations, enabling them to buy and sell both new and used goods and services.
Vendora adopts a customer-centric approach and actively promotes sustainable practices to minimize waste and encourage resource reuse. Demonstrating their commitment to environmental responsibility, the company has partnered with the sustainable logistics supplier, BoxNow.
The startup has set itself apart in the online marketplace by prioritizing secure transactions and reliable shipments, ensuring utmost satisfaction for both buyers and sellers. Their mobile app has received top ratings for its exceptional performance.
In April 2023, Vendora made its international debut with a launch in Cyprus, and within a short span, it skyrocketed to become the most downloaded app in the country. The recent grant secured by the company will further fuel its expansion in the region, aiming to achieve even greater growth.
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Funding Usage
Vendora has expressed that the newly raised capital will serve as a catalyst for accelerating the expansion of its market presence, solidifying its position as Greece’s premier platform for secondhand products. Additionally, the funding will support the scaling of its operational capabilities.
With a vision to become a leading marketplace for used second-hand items, the marketplace team aims to offer a broader range of products by the end of 2024.
Founder Robin Schuil affirms, “This fresh infusion of funding will accelerate our expansion plans and enable us to fully utilize Vendora’s advanced technological infrastructure, providing enhanced value to our customers.”
Schuil further emphasizes their unwavering commitment to delivering exceptional experiences in the buying and selling of used goods. The team is enthusiastic about executing their ambitious plans, fostering regional growth, and contributing to the development of a sustainable, circular economy.
