Finnish startup Renow secures €1.8M in seed funding to transform second-hand goods marketplace

Renow, Helsinki-based startup modernizing how returned, and second-hand goods are handled and resold, has secured €1.8 million in seed funding. The round was led by Greencode Ventures, with participation from existing investors Superhero Capital and Street Smart Capital.

About Renow

• Renow, founded in 2022, is a Finnish AI based recommerce startup and have created a new way to build marketplace supply. 

• It disrupts the supply chain through virtual warehouses and grading engine, offered with a freemium model for retailers and 3PLs. For consumers, Renow sells directly high quality 2nd cycle products from top-brands at discounts. 

• The company supports decentralized processing through local third-party logistics hubs, giving merchants significantly faster turnaround and less waste.

“The circular economy is vital for reducing waste, and Renow addresses this by efficiently re-selling returned goods. With a strong focus on electronics and hard goods, Renow’s deep supply-side integration and automated operations position it well for the rapidly growing recommerce market, particularly in the Nordics,” says Terhi Vapola, Founder & Managing Partner at Greencode Ventures.

Investment details

The round was led by Greencode Ventures, with participation from existing investors Superhero Capital and Street Smart Capital.

• Greencode Ventures, a Helsinki, Finland-based venture capital firm founded in 2022, focuses its investments on European companies in the clean energy, information technology, clean technology, climate technology, infrastructure, and micro-mobility & mobility technology sectors.

Renow will use new capital to expand platform and logistics partner network, as well as to grow its sales and product teams across Northern Europe.