Faircado claims to offer 4 million products from 35 partnered retailers including eBay, Rebuy, Sellpy and the BackMarket. This service aims to attract a $4.5 trillion market focused on circular economic principles.
Berlin-based startup Faircado announced that they raised €500,000 in a pre-seed round led by BackBone Ventures, with Earlybird, Peak Capital, Atomico, 4P Capital and others. The funds will be used to further develop the product as well as explore new partnership opportunities in Europe.
Faircado is a secondhand alternative to Amazon that works as a browser extension. As a browser extension, it lets people see alternatives to the items they’re searching for on Amazon. It’s the only browser extension on the market; all others focus on comparing prices of new items. Faircado also contains comparisons of used electronics and books at competitive prices. After installing the free extension to their web browser, Faircado can be activated. Whenever a user performs a marketplace search, Faircado shows second-hand options and connects the user to the reselling shop.
They helps users find second-hand goods that are sold on multiple sites. By purchasing from Faircado, shoppers can reduce the amount of time they spend searching for items on different sites. Evolena de Wilde d’Estmael, the company’s co-founder and CEO, notes that 50% of buyers in Europe use the second-hand market to purchase goods for the first time.
The startup teamed up with Everwave to collect 1 kilogram of waste material from the oceans for each download of their extension. Currently, the extension is compatible with Google Chrome, Microsoft Edge and Mozilla Firefox. A mobile app is scheduled to be released by Faircado in 2023.
The circular economy provides a way to stop our demand for resources from exceeding the planet’s supply. It’s also the only approach that can achieve this goal. Facing a shift in the way we produce, consume and share goods is critical; e-commerce provides a perfect spot for this change. The founders of Faircad, Evolena and Ali’s and their stellar team. They are building something that could completely change ecommerce by making it circular— a true game-changer. This is why 4P Capital, one of the project’s investors, chose to support them.