HBAN Impact Syndicate led €1.6M investment round for Thriftify

By hban.org
Wednesday, 10th August 2022

Thriftify, which acts as an online retailer for 98% of the country's charity shops, is expanding its workforce with 20 new jobss planned across the tech, e-commerce and sales and marketing sides of the business.

Thriftify has grown approximately 300% each year since launching in 2018 and is also investing in continued expansion across Britain.

It recently received a huge financial boost having just signed a €1.6M investment deal, led by the very first HBAN Impact Syndicate.

Themvar VC and leading angel investors, such as Ben Lewis - the former CEO of River Island - who are backing the circular economy and preloved clothing industry, are also involved in the investment.

The company's technology is now able to automatically value charity shop donations, list them on dozens of marketplaces online, and handle the entire end-to-end e-commerce journey, including customer care and fulfilment.

Thriftify has offices in both Dublin and London and currently employs 30 people full-time across Ireland, Britain, Moldova, India, Pakistan and Spain.

Its CEO Rónán Ó'Dálaigh launched the company in 2018 after spotting an opportunity to sell second-hand books online and wanted to find a way to enable charity shops to sell their donations online.

Rónán Ó Dálaigh said that investment in impact driven companies is hard to come by, so this investment is a major boost not only to the company, but to all entrepreneurs and companies whose priority is a sustainable, impactful future.

original article posted here