Romanian used phones marketplace Flip gets EUR 250,000 financing

Flip.ro, a local marketplace dedicated to used phones, received EUR 250,000 in a new financing round seven months after its launch.

Venture capital fund Gapminder has led the financing round, alongside V7 Capital and several private investors.

The two funds also funded the company with EUR 120,000 in November 2019. V7 Capital is an investment fund owned by Andrei Cretu and Iulian Cîrciumaru, co-founders of the 7card national network, while GapMinder is a venture capital fund mostly financed from EU funds.

"In the medium and long term, we want to be the leaders in the second-hand and refurbished electronics market in Romania, consolidate our position, and then take the product internationally. We focus on providing the best possible experience for our sellers and buyers," said George Moroianu, one of the platform's founders.

(Photo source: ID 76020131 © Lubos Chlubny/Dreamstime.com)