Two million reasons to invest in Warrp’s extended seed funding round

MELBOURNE, Victoria, September 7, 2021 - Warrp Co-Founders have received interests totalling over $2 million from its August discussions with multiple investors, generating significant buzz for the Melbourne based tech start-up.

The company directly approach more than 50 angels, corporates, and high net worth individual investors, while 27 of them were presented Warrps’ plans, and 13 ended up confirming an interest to participate.

The company will also begin preliminary discussions with well-known venture capitalists throughout the extended funding round in September to appoint Warrp’s inaugural Board of Directors to strengthen and support Warrp’s growth and success. 

Warrp Co-Founder and CEO, Matthew Ng, said the overwhelming interest spoke to the company’s vision and unique value proposition it offered over its competitors’ old-school style thinking.

“The seed round commitments have been overwhelmingly positive for us and reaffirms our position as a premier free-to-use platform,” said Mr Ng.

“Even though interest has surpassed our original $1.25 million seed funding ask, we will stick to that ask and remain selective about bringing the right partners onboard this journey with us.

“As a social enterprise marketplace, the use of our platform includes high-quality vetting of users and their listings, the fair market price Warrping tool, the safe meetup and pickup location option, and much more at no cost to the user.

“The only time someone pays a fee is when they choose to protect themselves further by using our in-built escrow feature. 

“Advanced discussions are ongoing, however we are always open to hearing from any investor who sees synergies with our vision to create a safe and secure marketplace and lower or eradicate online fraudulent activity in the Australian second-hand goods economy.”

Warrp’s rapid growth has also seen the appointment of a Chief Financial Officer, who will be officially announced in October.

“We now have a CEO, CTO, and CFO with different yet fundamentally important skill sets and experience to work on Warrp’s vision,” said Mr Ng.

“We have decades of industry and start-up experience between us to attract the best people and foster a culture of unity, teamwork, and passion as Warrp takes off.

“Our ambition is to play a major role in keeping Australian’s safe by offering a better and smarter second-hand goods marketplace than our American, British and Singaporean counterparts.”

To track Warrp’s investment round and to get all the latest, visit Warrp’s Crunchbase Profile, and keep up to date with the latest news by bookmarking Warrp’s Press Room. Warrp is available to download on iPhones via the Apple App Store, and will be available on all other smart phone and web devices shortly.

-ENDS-

About Warrp: Warrp is the only second-hand goods platform that will be tackling the issues of safety and pricing fairness. Safety is provided with the optional use of a low fee in-built escrow wallet facility and a safe meetup and pickup geo-locator recommender from vetted localised businesses. Fair pricing is provided with the only available crowdsourced machine learning pricing system developed by Warrp that provides a fair market price update every 12 hours automatically. Warrp’s end-to-end experience is designed to make it safer and more convenient to buy and sell pre-owned goods such as collectibles, electronics, luxury wear, and vehicles. Warrp is available for use in Australia and has a vision to grow its presence globally as a reputable online marketplace built on strong community values, innovation, safety and ease of use. Discover a marketplace where you are in control of the journey and destination. Just Warrp It!