Swap.com closes EUR 3 million investment round and signs Marc Onetto as advisor

Cleantech Invest Plc 
Company Release 12 December 2014 at 8.30 am (EET)

Cleantech Invest: Swap.com closes EUR 3 million investment round and signs Marc Onetto as advisor

Cleantech Invest Plc has made an additional investment of EUR 0.5 million to its portfolio company Swap.com (Netcycler Oy). After the transaction, the ownership of Cleantech Invest increases to 6.1%, including both the direct ownership and indirect ownership through Clean Future Ky.

The investment is a part of a EUR 3 million investment round. In addition to Cleantech Invest, investors participating in the round include founders of Skype and Marc Onetto, former Senior Vice President of Amazon.com's global operations. Marc Onetto has also been signed to act as advisor to Swap.com.

Swap.com has been growing strongly. Monthly revenue has increased more than tenfold during the past 12 months and amounted to 218,000 USD in October 2014. The company recently expanded into a new fulfillment center, and the service now offers a selection of over 150,000 items.

Swap.com is an online consignment store operating in the USA for buying, selling and swapping pre-owned items. Swap.com brings the user experience and operational effectiveness of shopping pre-owned to the levels experienced with online stores selling new items. In Swap.com's model the seller sends goods to Swap.com and Swap.com then takes professional photos, lists the items and takes care of logistics. The buyer interacts with Swap.com and can order several items to be delivered home in one package. A very cost-efficient process enables efficient trade also with inexpensive items. The current focus of Swap.com is on kids' clothing and items, and it is the biggest kids' online consignment store in the USA.

Marc Onetto: "Swap.com delivers an outstanding experience for the customers in terms of item quality and on-time delivery, which is unparalleled in the consignment store business. This is the foundation of their explosive growth and they have the potential to become a hundred billion dollars company."

Feodor Aminoff, Managing Director of Cleantech Invest Plc: "Swap.com is a good example of an ultra-scalable business, which significantly improves the resource efficiency of society. We believe Swap.com has the potential to become one of the biggest players in e-commerce and that the trade of pre-owned items will be a very large market alongside with new goods. Marc Onetto joining the company as advisor will further strengthen the team of Swap.com and accelerate the company's growth towards category leadership in online consignment."


Further information: 
Feodor Aminoff, Managing Director of Cleantech Invest Plc, tel. +358 400 449 096, [email protected]

Certified Advisor Access Partners Oy, tel. +358 9 6829 500.

Cleantech Invest in brief 
Cleantech Invest is a Finnish investment and development company founded in 2005 and focusing on clean energy and efficient use of natural resources. The company owns minorities in a diversified portfolio of companies and is actively looking for new capital-light, high-impact businesses within the cleantech universe. Cleantech Invest invests in the most promising early-stage and growth cleantech companies in Finland, Sweden and in the Baltic Sea area. The company management team members are international pioneers in cleantech investing. Cleantech Invest is also a designated Accelerator in the Vigo Program initiated by the Ministry of Employment and the Economy. www.cleantechinvest.com

2014-12-15 10:00
Marit Tuominen