Finnish re-commerce shop Mjuk receives €2.5M from Trind Ventures
Estonian Trind Ventures led the €2.5 million round for Mjuk, Helsinki-based marketplace for buying and reselling used furniture. The round saw participation from Alliance VC, Superhero Capital, Lifeline Ventures, and aims to accelerate Mjuk’s growth.
- Founded in 2019 by Rickard Zilliacus, Casper von Pfaler, and Max Heino, Mjuk provides an end-to-end circular marketplace, simplifying the process for both companies and consumers to sell furniture that is redundant. Mjuk handles the entire process, from furniture pickup and cleaning to photography, warehousing, marketing, sales, and delivery, which makes the buying and selling experience effortless.
- Since launching Mjuk has grown its revenue every year by 100% year-on-year, with €3 million in revenue in 2022, and has client base in Finland and Sweden.
The list of investors
- Estonian seed-stage venture fund Trind Ventures, the leading investor in the current round. Its portfolio already consists of such marketplaces as Webel, Xceed, Yaga, SACLÀB.
“The problem Mjuk is tackling is huge: millions of tons of furniture are burned or tossed into landfills every single year while perfectly good furniture gets disregarded due to changing preferences, relocation, and needs. Mjuk tackles this by giving a second life to quality products. At Trind, we see that Mjuk is exceptionally well-positioned to take advantage of the ever-increasing trends of the circular economy and conscious consumption, and be the leader in sustainable furniture retail,”Reima Linnanvirta, Partner at Trind Ventures.
- Alliance, a Nordic venture capital firm investing in early-stage tech companies and purpose-driven founders with global ambitions.
- Superhero Capital, Finland-based seed stage-focused VC investing in insight-driven startups from Finland and the Baltics. Recently, the firm invested in another Finnish SaaS startup Videobot.
- Helsinki-based early-stage VC firm Lifeline Ventures. In May 2023, it raised €150 million for the fifth fund.
- €0.5 million of the funding was raised as a capital loan from Finnvera.
The fresh round of funding will accelerate Mjuk’s growth towards profitability while strengthening the brand’s reputation in both B2B and B2C segments.