Market News: Amsterdam startup Peerby raises $2.1 million to bring smalltown sharing to your doorstep

Good news from the Netherlands! Amsterdam-based local borrowing platform Peerby raises $2.1 million. The investment round is led by French XAnge Private Equity. Netherlands-based Sanoma Ventures invested for a second time. TechStars and angels from Canada and the United States also invested. Dutch founder Daan Weddepohl is going to use the funds for product development and and international growth, with a specific focus on the United States.

About Peerby:

Peerby is a website and app that enables you to borrow the things you need from people nearby. With 100,000 users Peerby has mature communities in the Netherlands and Belgium, London, Berlin, and is currently emerging in six US pilot cities.

Dutch entrepreneur and founder of Peerby Daan Weddepohl was the first to create a local borrowing marketplace for goods that has real traction. In Peerby’s hometown Amsterdam the chance that you will find that power drill or camping equipment is up to 85%. The liquidity of the marketplace, together with the steep growth curve, are the main reasons that investors like Xange, Sanoma and TechStars invested in the company. Peerby not only has a social and sustainable impact but is also of interest to investors.

Peerby will invest the funds fully to enable international growth of local communities in 50 US cities. With that growth, Peerby wants to deliver the same performance as in The Netherlands and Belgium: the majority of the requests answered within 30 minutes. In the Netherlands, Peerby will be fully committed to product development. The ambition is to reduce the response time from 30 minutes towards one minute.

Read more on Peerby’s website.

Read our interview with Daan Weddepohl here.

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