Cudoni, the luxury marketplace that makes it easy and convenient to buy and sell pre-owned designer items, has just secured a significant investment. The company raised 7.5 million pounds ($9.25M) with the help of eBay Ventures and contributions from existing investors such as The Daily Mail Group Ventures.
What sets Cudoni apart from other online marketplaces is its unique approach to handling luxury goods. Rather than relying on the seller to handle shipping, Cudoni picks up the items directly from the seller’s home. This not only makes the process more convenient for the seller but also ensures that each item is properly authenticated before being listed for sale on the platform.
Sellers can expect to receive up to 80% of the sale price when their items are sold, making Cudoni a highly attractive option for anyone looking to sell their luxury goods. With its innovative approach and its strong support from investors, Cudoni is poised to become the go-to marketplace for buying and selling luxury goods online.
eBay Investment and Future Plans
After investing in Norwegian-based Tise last year, eBay Ventures has now made another investment in the start-up circular-economy marketplace platform. This investment showcases eBay’s vision for more sustainable e-commerce and the growing demand for second-hand goods among younger consumers.
Cudoni, a localized marketplace, first started its operations in its home city of London and has since expanded to Manchester. With the recent funding round, the company has more than doubled its total funding, and there are speculations of it expanding its operations beyond these two cities and even the UK. High-value cities known for their luxury goods, such as Paris, Amsterdam, Frankfurt, and Milan, might be on the radar of the company.
However, there has been no official word from Cudoni on how they plan to use the new funding. So far, the company has raised £14.3 million ($17.6M) since its founding in 2017.
In conclusion, Cudoni’s investment from eBay Ventures is a significant milestone for the company and a clear indication of the growing importance of a circular economy in e-commerce. Stay tuned for updates on Cudoni’s plans for the future and how it plans to change the game in the world of luxury goods.