Romanian toy sharing startup raises EUR 162,000 in equity crowdfunding campaign

Romanian startup EverToys has managed to raise EUR 162,500 in the first crowdfunding campaign carried out on the local equity crowdfunding platform Seedblink.com. The company’s target was to raise EUR 150,000 in two months and managed to achieve its goal in just 20 days.

EverToys wants to change the way families get their toys with a different system from traditional, consumerist and inefficient retail: "Toys as a Service" or Netflix for toys. Instead of buying toys, parents pay a flat-fee monthly subscription which gives them access to a library of toys and books. Parents also have the option to buy the toys their children prefer at a discount.

“Our goal is to become the number 1 provider for what is needed for a family to ensure the development of their children, applying the principles of Sharing Economy,” according to the company’s presentation.

The platform also offers a BuyBack option for the family’s old toys, which are sorted and used in the Corporate Responsibility program.

EverToys was founded in 2016, in Bucharest, by four local entrepreneurs. The platform received its first angel investment in 2016 and a larger investment in May 2018. The crowdfunding round will help the company scale its business.

“With the help of the amount we will conclude the next 12 months with 1,400 active customers and over 3,000 registered users. We will be able to lay the foundations for rapid growth, consolidate components and complementary products that will diversify our sources of income and prepare for regional expansion,” according to the company’s pitch on Seedblink.com.

The investors who participated in this funding campaign will hold little over 10% of the EverToy’s shares, which translates into a valuation of EUR 1.5 million for the company.

Launched in November 2019, SeedBlink is the first equity crowdfunding platform in Romania.

“We help everyone invest only EUR 2,500 in the startups they value. You can think of us as "Investment Kickstarter". Unlike Kickstarter, you don't buy a product or donate to an artist. Instead, you invest in a business with the hope of making a profit. We filter the companies and you decide who you want to finance. If the business is doing well, you can have a revenue. If it doesn't go well, you lose your money. In any case, you join a community of other investors trying to help startups,” reads the platform’s presentation.

The platform was conceived and launched by local startup Human Finance, founded by Andrei Dudoiu, Ionut Pătrăhău and Iulian Pădurariu.

(Photo source: Evertoys Facebook page)