Bookbot successful with four million euros Series A

Following its success in the Czech Republic and Slovakia, Bookbot wants to conquer the DACH market! With fresh 4 million euros from Genesis Growth Equity Fund and Miton, the company plans to increase its turnover to 24 million euros by 2024

Berlin, August 20, 2024 - Bookbot, a leading online marketplace for second-hand books, has closed a Series A financing round of four million euros. The valuation of the company is over 20 million euros. Genesis Growth Equity Fund I led the financing round, while existing investor Miton also participated. With this investment, Bookbot plans to accelerate its expansion in Germany, Austria and Switzerland (DACH market).

Focus on expanding into the DACH market and increasing sales

Bookbot was founded in Prague in 2019 by brothers Dominik and David Gazdoš and has quickly established itself as the market leader in the Czech Republic in the second-hand book sector. Following the successful market launch in Slovakia in 2022 and in Austria and Germany in 2023, the new capital will now be used specifically for further expansion in the DACH market. The company is aiming to double its turnover to 24 million euros by the end of 2024 and expects the DACH market to account for 50% of total turnover by the end of 2025.

Sustainable re-commerce solutions on trend

The re-commerce market - the trade in used products - is growing steadily and offers attractive business opportunities. According to a study by MarkNtel Advisors, the European re-commerce market will grow by 10.8 percent annually between 2024 and 2030. Bookbot enables its users to both buy and sell used books. To date, the company has sold over five million books. In the DACH region alone, 750,000 books have been sent in since the market launch, some of which are processed via the post office, Thalia stores in Vienna or the innovative "Book Messenger" service.

Our focus is on offering the best service for second-hand goods. We rely on close communication with our users and develop practical solutions that make buying and selling as easy as possible.

Dominik Gazdoš, CEO and co-founder of Bookbot

Bookbot relies on new concepts to set itself apart from the competition. Each book sent in is photographed individually to ensure a high level of transparency regarding its condition. Bookbot's comprehensive range, which also covers niches, offers customers a wide selection of inexpensive books and thus contributes to sustainable consumer behavior.

Steady growth in the re-commerce industry

The re-commerce industry is growing rapidly and Bookbot is recording continuously rising sales. Sales are expected to double to 24 million euros in 2024, while the DACH market is expected to account for a significant share of total sales as early as 2025. In times of rising inflation and a growing awareness of sustainable consumption, the demand for inexpensive second-hand products will continue to increase.

Bookbot has its finger on the pulse by offering sustainable solutions in a growing market. The planned opening of brick-and-mortar stores in Berlin and other German cities will further boost our growth.

Marilena Himmelreich, Head of Communications at Bookbot

Strong growth opportunities and tough market environment

Ondřej Pernica, Investment Manager at Genesis Growth Equity Fund, sees great potential: "Re-commerce is an efficient approach to sustainable consumption. The strong team and their clear vision to conquer the European market convinced us. We are confident that Bookbot is in an excellent position to successfully expand in the DACH region."

Bookbot is entering a highly competitive market in the DACH region, where established providers such as Momox, Rebuy, Buchmaxe and also giants such as Amazon dominate the used book trade. These competitors have large customer bases, extensive logistics networks and, in some cases, many years of market experience. Bookbot has to assert itself in this challenging environment and find its place. It will be exciting to see whether Bookbot, with its innovative approach, focus on sustainability and unique services such as the "book messenger", can gain market share in the long term and become a genuine alternative to existing providers.

Michal Jirák from Miton adds: "Since our first investment in 2021, Bookbot has achieved considerable success. The strong start in the DACH region and strategic partnerships show that Bookbot is ready to continue its success story in other markets."