EALYX gets over 1 million in funds for a new ‘circular economy’ service

April 16, 2024 by
Frank Calviño

EALYX, a Spanish SaaS platform for e-commerce that aims to facilitate a ‘trade-in circular economy service’ with instant payment to the consumer, has announced the closing of a financing round of 880,000 euros of capital that could place their total funds well over the 1 million euros. 

The company was founded a few months ago by entrepreneurs Àlex Corbacho, Pol Karaso, and Jaume Benet.

In this financing round participate the venture capital funds Demium Capital, Archipelago Next, Ona Capital, First Drop VC (impact fund in Sustainable Development), and Coben Ventures, among others. 

Currently, when a consumer wants to sell his used product, he does not receive payment until the product has been inspected. This means the user cannot pay for new online purchases with the value of used items. EALYX solves this problem by allowing instant discounts when trading in used products during a new online purchase.

EALYX aims to offer a new ‘second-hand’ experience 

In addition, the company aims to offer a refined ‘buy second-hand’ or circular economy experience. To do so, EALYX will integrate multiple buyers of used products (buyback partners), making it possible to turn trade-in into a transaction agnostic to the product bought and sold category. 

The idea is to make it easier to buy, for example, a computer by paying in part with a used bicycle. EALYX's vision is to change the consumption paradigm, creating "the currency of physical things" where used items also have value for new purchases.

The company has generated great market interest in its few months, allowing it to raise its first round of investment with Spanish venture capital funds of reference. "This round of financing will allow us to accelerate product development, expand our reach and boost the implementation of our solution in leading companies," explained Pol Karaso, co-founder of EALYX. 

"We are creating a new category and, with this capital injection, the company is well positioned to consolidate its position as a benchmark and lay the foundations for international growth. We expect to generate the first thousands of new purchases paid for with used products in the coming months and to multiply our orders by 8 times by 2025," said Àlex Corbacho, co-founder of EALYX.

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