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Overview
SecondShop operates as an online marketplace that sells overstock, open box, and like-new products sourced directly from top retailers and manufacturers. It connects retailers and manufacturers with consumers to provide high-value deals while preventing waste, using a model that maximizes recovery of returns and overstock items. Products are curated and offered at discounted prices, with a focus on a trusted, sustainable shopping experience. The company differentiates itself by direct sourcing from reputable brands, emphasis on recovering unsold inventory, and eco-friendly practices. Its goal is to offer affordable, dependable products to shoppers while reducing waste and helping retailers recover value from excess inventory.
About SecondShop
Industries
Data & Analytics
Consumer Software
Social Impact
Consumer Goods
Company Size
11-50
Company Stage
Seed
Total Funding
$1.5M
Headquarters
Toronto, Canada
Founded
2023
Simplify's Take
What believers are saying
- $2M CAD seed from Harvest Venture Partners fuels national scaling.
- Targets 45 million annual Canadian returns at 70% off MSRP.
- Plans to grow headcount from 18 to over 50 by year-end.
What critics are saying
- Back Market dominates with superior warranties, eroding share in 6-12 months.
- Neo Financial siphons B2B suppliers, halting 40% MoM growth in 3-6 months.
- Amazon Renewed captures consumers via Prime shipping in 6-12 months.
What makes SecondShop unique
- SecondShop offers 1-year warranty on open-box appliances shipped Canada-wide.
- B2B platform moved 1,000 tons of merchandise since January 2024.
- Appliance Supplier Program offloads retailer returns to consumers.
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Funding
Total Funding
$1.5M
Below
Industry Average
Funded Over
1 Rounds
Industry standards
Benefits
Health Insurance
Dental Insurance
Vision Insurance
Remote Work Options
Growth & Insights and Company News
6 month growth
↑ 20%1 year growth
↑ 118%2 year growth
↑ 140%SecondShop secures $2M seed financing.
SecondShop has launched its re-commerce platform that aims to make shopping for secondhand goods as easy as buying from mainstream retailers.
SecondShop is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today
About SecondShop
Industries
Data & Analytics
Consumer Software
Social Impact
Consumer Goods
Company Size
11-50
Company Stage
Seed
Total Funding
$1.5M
Headquarters
Toronto, Canada
Founded
2023
SecondShop is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today