SecondShop has launched an e-commerce platform, aimed at providing high-quality, like-new discount home goods in Canada. It has also announced it has secured $2 million in seed financing, led by Harvest Venture Partners with participation from leading angel investors in the space.
“In a time when the cost of living continues to rise, SecondShop is committed to helping Canadians maintain their standard of living without additional financial strain,” said Cedric George, CEO and Founder of SecondShop. “We’re not just another discount e-commerce site; we provide a complete solution — from easy online ordering of name-brand products to direct home deliveries — eliminating the need for customers to navigate the often cumbersome process of liquidation auctions and warehouse pickups.
“We’re excited to raise the bar and transform the re-commerce space. Our goal is to help Canadians feel good about their purchases — to feel good about their savings and their positive impact on the world. With SecondShop, quality and savings do go hand in hand.”
With the price of goods remaining high and borrowing costs putting pressure on consumers, Canadians are increasingly seeking cost-effective shopping options, said the company in a news release. SecondShop said it addresses this need by leveraging reverse logistics to breathe new life into over 45 million annually returned goods, offering essential products at up to 70 per cent off the manufacturer’s suggested retail price.
“Our investment in SecondShop is based on our belief that re-commerce represents a new category where vertical integration between software and services is key,” said Alex Gold, General Partner at Harvest Venture Partners. “Similar to our work with Neo Financial, OneVest, Walnut Insurance, and other category leaders, we’re excited to partner with Cedric George and the SecondShop team to transform this growing space.”
SecondShop is a nationally distributed, Toronto-based online re-commerce platform that offers overstock and open-box home goods directly from retailers and manufacturers at reduced prices, promoting sustainability and accessibility in consumer goods.
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