UK’s largest marketplace to buy & sell pre-loved furniture and homeware.
Business overview
| Location | London, United Kingdom |
|---|---|
| Social media | |
| Website | www.vinterior.co |
| Sectors | Home & Personal Mixed Digital/Non-Digital Mixed B2B/B2C |
| Company number | 09647881 |
| Incorporation date | 19 Jun 2015 |
Investment summary
Business highlights
- £75 million Gross Merchandise Volume
- 400,000 pre-loved products worth £473 million
- 43% GMV from repeat buyers
- UK’s biggest secondhand furniture platform - Times
Key features
Pitch
About the Campaign
We're Vinterior, UK’s largest second-hand furniture platform making buying and selling premium pre-loved furniture and homeware frictionless.
With over £75 million in Gross Merchandise Volume and a proven business model, we’re ready to expand across the UK.
Join us in transforming how people furnish their homes. Together, we can empower everyone to create unique, characterful homes using quality pre-loved furniture, with speed, convenience, and sustainability.
Market Opportunity
Two transformative trends are reshaping the market right now: the digitalisation of traditionally offline, sectors like furniture and the rise of marketplaces disrupting these industries.
Alongside this, consumers are pushing for sustainable options, with over 70% of consumers planning to purchase pre-loved items in 2024 (according to eBay's 2024 Re-commerce Report). Today, we believe that Vinterior stands at the intersection of these powerful shifts, perfectly positioned to lead the fast-growing $22bn furniture resale opportunity in 2027.
Traction & Key Accomplishments
Funding to date:
The company has raised £12m in investments.
Most recently we have secured a £3 million investment from Channel 4. Advertising in the London underground and buses in the past year has allowed us to effectively acquire new customers and grow our brand awareness in London. This partnership will enable us to use TV advertising and tap into significant audiences for popular Channel 4 shows featuring home improvement, such as Grand Designs to fuel our UK expansion.
Team
In 2015, Sandrine Zhang Ferron founded Vinterior after struggling to sell a designer sofa and spending three months searching for the perfect vintage yellow armchair. Frustrated with time-wasters and scammers, she left her finance job to create a safer, easier way to buy and sell quality pre-loved furniture. Vinterior now helps busy interior enthusiasts effortlessly furnish their homes with unique quality pre-owned pieces. Her senior team has relevant retail and marketplace expertise.
Business Model
Our asset-light marketplace connects buyers and sellers without holding any stock. Sellers list items, buyers shop on Vinterior and we earn a fee per sale. We handle payments and third-party couriers manage deliveries.
Revenue including managed deliveries totals 23% of net GMV (as of May 31st 2024).
New customer acquisition:
69% of our traffic comes from organic search, direct & emails, acquiring customers efficiently. We have delivered positive contribution margin after variable costs and direct customer acquisition costs from the first order since 2020.
Repeat:
Over 40% of our GMV is from repeat customers, averaging £1,900 in total spend.
Use of Funds
This funding will enable us to accelerate our UK expansion and help us achieve our goal of profitability within 12 months thanks to increased economies of scale, network effects, brand recognition, trust and loyalty. We will invest in…
Investor Perks
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company and listed above. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
Key Information
Outstanding Debt
The Founder provided a loan in the amount of £7,500 in 2016 to the Company to assist with working capital requirements and £260.67 expenses were moved to that loan account, resulting in £7,760.67 in a Directors' Loan Account (the "Director’s Loan"). The Director’s Loan is not documented, does not bear interest and there is no plan for the loan to be repaid. The loan is outstanding and will remain so.
Active Partners and Venrex, two investors in Vinterior, have agreed to extend the payment terms of 50% of their investor fees payments from July 2023 for 12 months. They have confirmed this arrangement by email, stating that they will invoice Vinterior for monitoring fees for the usual amount, and Vinterior will pay 50% and accrue 50% for payment at a future date.
Share Classes
The company currently has 2 classes of shares, A Preference Shares and Ordinary Shares. All investors in this round, including Seedrs investors, will be receiving A Preference Shares.
The key commercial rights attached to the share classes are as follows:
A Preference shares:
· 1x non-participating preference on liquidation and exit: A ordinary shareholders will first receive their initial investment amount before the remaining proceeds are distributed between all shareholders pro rata.
· Voting rights
· Dividend rights
Ordinary shares:
· No exit or liquidation preference, but rights to pro-rata distribution once A Ordinary Shares’ preference has been repaid
· Voting rights
· Dividend rights
Please note that Active Partners, a lead investor in a previous round of the company, will have the right to drag all other shareholders in a 100% share sale of the company after 10 September 2025, if it so chooses. Pre-round, Active Partners holds c.18.5% of the total shares in the company. The sale must be to a bona fide purchaser on arm’s length terms.
Potential Dispute
The Company has received a letter dated 6th March 2024 from the Animal & Plan Health Agency to warn that advertisement of multiple items containing Rosewood for sale without an Article 10 certificate listed is a potential breach of ‘The Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) – EC Regulations 865/2006 and 338/97 (as incorporated in UK law as retained EU law). That letter has requested that the company re-visit certain advertisements regarding rosewood products.
The Company is in the process of getting legal advice on this, however the company's response is likely to be either to remove the affected products from the platform or contact suppliers to require them to remedy the situation.
The impact on the company is expected to be minimal, as less than 1.5% of all stock is affected.
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