Finnish company Mjuk, a platform for second-hand furniture, recently raised around 1.5 million euros. The funds will be used to fuel growth and accelerate expansion. The company is now launching its service in Sweden, as a first stop on the planned international journey.
“The launch in Sweden has been a success. We are happy that Swedish customers have found us so quickly and that we can offer the easiest way to sell and buy second-hand furniture for Swedish customers now,” says co-founder and growth manager Max Heino.
The company deals with the entire process, from picking up the furniture from the customer and handling sales.
The company itself estimates that the market for used furniture amounts to “several billion euros” and that second-hand furniture corresponds to approximately 15-20 percent of the market for new furniture. And after the launch in Sweden, the company also has plans to continue its expansion into Europe, where countries such as Germany, Denmark and the Netherlands are highlighted as potential markets within “the coming year”.
“Our strategy is based on rapid expansion, which enables us to internationally serve both existing second-hand consumers and new customers,” says Rickard Zilliacus, CEO of Mjuk.
“Mjuk’s innovative concept immediately piqued our interest, and when we met the young but incredibly ambitious founding team, the decision to invest in the company was quickly made. We at Lifeline strongly believe that we will see the same trend in the furniture market as in the market for second-hand electronics and fashion: consumers want a more sustainable and affordable way to obtain furniture “, comments Juha Lindfors, partner at Lifeline Ventures,on his investment in the company’s seed round.