BuyBay acquires investment from Fortino Capital for international business growth
Amsterdam, 27 February 2017 – BuyBay, the leading provider of total solutions for returned products in e-commerce and retail, has acquired a substantial investment of millions of euros from investment company Fortino Capital. In addition to the investment, Fortino Capital will advise the management of BuyBay on realisation of its international growth ambitions. This partnership will make it possible for BuyBay to achieve international business growth, ensure that retailers and e-tailers commit themselves to BuyBay quickly, and further professionalise the IT platform and logistics facilities. Thijs Bosgoed, CEO of BuyBay: “On the one hand, the investment will enable us to enter new countries quickly. On the other, we will continue to invest in all aspects of our total product; from logistics and IT to customer service, so that we can continue to improve our proposition for customers.”
BuyBay was founded in early 2014 and offers a total solution for returned products in e-commerce, targeted at retailers, distributors and brands. BuyBay gives these products a second life, by evaluating the visual and technical condition of the product and, if appropriate, performing repairs. The return products are then automatically offered to consumers again as second hand, thanks to the in-house developed software by BuyBay. With its total solution, the organisation – with customers from the top 10 Dutch retailers and e-tailers – has developed, in three years, to become a rapidly growing scale-up in Europe. BuyBay currently has approximately 50 employees.
Thijs Bosgoed: “In the near future, we want to further internationalise our services. Thanks to the investment of Fortino Capital, we will be able to achieve this more quickly. We are already selling actively throughout Europe, but we have a strong focus on the Netherlands in terms of customers. Our ambition is to enter the German market in the first half of the year, and in the second half we want to focus on France. In addition to the investment, Fortino Capital has tons of expertise and a great network to help us with this. They are fellow entrepreneurs, who completely stand behind our ambitions. By investing now, we will be excellently positioned to realise international business growth.”
Duco Sickinghe, Managing Partner at Fortino Capital: “We believe in visionary entrepreneurs with ambition and growth potential. Right from the first contact, we were convinced that BuyBay has great potential to become a top European player in the return market. The Netherlands and Belgium are already convinced by their total solution, now we will be focusing together on business excellence on international level. With its strong management, dynamic employees and powerful software, BuyBay has everything it needs to conquer the European market.”