Equippo, a global online marketplace for used heavy equipment, has closed its first seed financing round with a mid-six-figure sum. The round was led by the venture capital company b-to-v (St. Gallen/Berlin). International angel investors from the b-to-v network were also involved. The Zug (Switzerland) based startup, which was founded in 2014, will invest the fresh capital to expand and amplify seller acquisition, online marketing, and organizational structure with focus on Russia, Africa, and South America.
Michael Rohmeder, CEO of Equippo, says: “It was exactly right to begin as a “lean startup” and bring a product live quickly and without investment. It was the logical way to reach our first phase goals with limited resources. The investment with b-to-v now allows us to prepare for the next development stage with much more power. We are really happy with b-to-v; Florian and his team are very professional and above all bring their extensive experience and Angels.”
Equippo founders Michael Rohmeder and Philipp Knobel use a transparent fixed-price model including delivery to buyers worldwide to win out over competitors based on the auction model. In the last 10 months, the company has grown to 10 full and part-time employees, and now serves customers around the world in nine languages.
On its international marketplace, Equippo offers used heavy equipment like excavators, loaders, asphalt pavers, and aerial platforms. Equippo has aimed to bring sellers and buyers together, and to make the international buying and selling process as easy as possible. Next to a minimalistic design comes a unique technical innovation in the form of a price calculation engine. This allows the final price for a product to be displayed – including logistics and customs costs to the requested location, in local currency. To meet the high expectations of B2B customers, Equippo has an international, offline sales team to complement the ease of online transactions with professional consultations.