Local lending app and sharing economy darling Peerby has raised €1.7M from a group of international investors. The round is led by the French private equity firm XAnge. Previous seed investors Techstars and SanomaVentures also participated in the latest round.
Peerby operates a peer-to-peer sharing service for products. The startup uses a request-based system for local borrowing and lending. It was founded two years ago by Daan Weddepohl. The company claims that the chance of finding something with their platform is 85% and that often most of the borrowed stuff like drilling machines, ladders and so on are found within 30 minutes.
Currently the app is available for users in the Netherlands, Belgium, London and Berlin. The startup will use the capital raised to predominately strengthen its foothold in the USA. It’s already running pilots in eight American cities. By the end of 2015 it wants to be active in 50 cities in the USA.
Peerby is the second Dutch startup this week that raised more than a million euro in funding from a group of international investors. The New York Times Co. and Axel Springer are investing €3 million in Series A funding in the ‘iTunes for news’ startup Blendle.
Banner photo provided by Peerby