Amsterdam startup Peerby raises $2.1 million to bring small town sharing to your doorstep
Now present in eight US pilot cities, next year Peerby wants to be available in 50 US cities. Peerby has more than one million items on its platform.
30 OCTOBER 2014, AMSTERDAM
SummaryAmsterdam-based local borrowing platform Peerby raises $2.1 million. The investment round is led by French XAnge Private Equity. Netherlands-based Sanoma Ventures invested for a second time. TechStars and angels from Canada and the United States also invested. Dutch founder Daan Weddepohl is going to use the funds for product development and and international growth, with a specific focus on the United States.
Peerby is a website and app that enables you to borrow the things you need from people nearby. Members and transactions are growing exponentially since the launch in September 2012. With 100,000 users Peerby has mature communities in the Netherlands and Belgium, London, Berlin, and is currently emerging in six US pilot cities.
Dutch entrepreneur and founder of Peerby Daan Weddepohl was the first to create a local borrowing marketplace for goods that has real traction. In Peerby’s hometown Amsterdam the chance that you will find that power drill or camping equipment is up to 85%. The liquidity of the marketplace, together with the steep growth curve, are the main reasons that investors like Xange, Sanoma and TechStars invested in the company. Peerby not only has a social and sustainable impact but is also of interest to investors.
Peerby will invest the funds fully to enable international growth of local communities in 50 US cities. With that growth, Peerby wants to deliver the same performance as in The Netherlands and Belgium: the majority of the requests answered within 30 minutes. In the Netherlands, Peerby will be fully committed to product development. The ambition is to reduce the response time from 30 minutes towards one minute.
"We believe in a sharing city where you have instant access to everything in your neighborhood. A place where we can make the best use of modern technology by fostering human connection, building communities and highly improving the efficiency of the limited and yet abundant resources that cities host. With this investment, we are going to take the next steps towards this goal." Daan Weddepohl, CEO of Peerby
"At XAnge, we are longstanding believers in the sharing economy and we’ve been fortunate to back very strong entrepreneurs willing to make our world a better place. Peerby is the most liquid marketplace we’ve ever met and it is led by very open minded yet driven entrepreneurs. As we strongly believe that we’re now living in a world increasingly driven by usage rather than ownership, Peerby is a perfect match for us. We’re now very proud to help Peerby grow its model on a global scale and build strong local communities." Rodolphe Menegaux, Quote XAnge
"Peerby has undergone significant developments in terms of team, product and reach, not only in Dutch and Belgian cities, but also beyond. We believe Peerby will develop itself into the leading global platform for local stuff sharing and we are glad to help make this possible, this time in cooperation with international investors." Herman Kienhuis, Sanoma
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About Peerby International
Peerby is a website that lets you easily borrow or rent (Peerby GO) things from your neighbors - with delivery, access to the things you need is even faster and more convenient. Ask Peerby for something you need, and borrow or rent it from your neighbors. With renting, you pay a small amount but you are sure to get exactly what you need, when and where you need it. The owners can make some extra cash by delivering the item themselves or let Peerby arrange delivery by bike messenger. Peerby saves you money, promotes social cohesion and enables the green life: as many as 1/8 of CO2 emissions on earth are derived from the production and consumption of durable goods. Since the launch of Peerby in September 2012, the number of members and transactions has grown exponentially. Peerby has active communities in twenty cities across Europe and in ten pilot cities in the US.