User growth in one of Australia’s most progressive tech start-ups is propelling investment interest with Warrp’s extended seed funding round.
MELBOURNE, Victoria, July 28, 2021 - Warrp has extended its seed funding window to the end of August as the company’s new user signups skyrocket 138 percent in the month of July.
Warrp is in discussions with prospective seed funding partners after receiving competitive interest from investors and investment firms both nationally and abroad, and will still welcome new expressions of interest over the next month.
The company’s invitation for sophisticated, institutional or professional tech investors will enable new product developments and existing feature upgrades to help reach its yearly revenue over monthly active user ratio of AUD28.72.
Warrp Co-Founder and CEO, Matthew Ng, said the ratio played an important role for tech companies because the value of their active users and how they interact with their platform to produce revenue is a value that can be benchmarked.
“Our ratio is on the same level as the likes of US company StockX, which is currently valued after its latest Series E round at USD3.8 billion (AUD5.16 billion) with a ratio of USD26.67 (AUD36.19),” said Mr Ng
“We have made huge strides forward recently, cementing a Top-100 Australian Shopping Category app store ranking in July.
“Our App Store optimisation strategy with global app marketing agency, Studio Mosaic, has drastically improved our cost-per-acquisition and organic user engagement, and we’re tracking towards a Top-50 ranking very soon.
“With an Android and web platform launch in August 2021, plus Google Shopping, Instagram Shopping and Facebook Shop auto-listing integration, we’ll be scaling rapidly with an expected break-even point of June or July 2022.”
Warrp Co-Founder and CTO, Roman Granovskyi, said the company was working on future projects to improve key metrics and strengthen the user experience.
“We have several pipeline projects in development including a secure marketplace for trade and service providers, Warrp-branded up-cycle products that are eco-friendly, partner advertising and smart ad revenue initiatives, and evolving payment options such as a WPay buy-now-pay-later PayID solution,” said Mr Granovskyi.
“We are looking for the right investors who are ready to work with a team dedicated to optimising and growing Warrp to become the safest pre-owned goods marketplace in what is a AUD46 billion per year Australian resale industry.
“We understand that the C2C space is a challenging one, but we truly believe we have the right mix of user offerings, tech know-how and business management skills to achieve success in this field.
“We are committed to Warrp’s success and will be cycling revenue back into the company without drawing a wage until we turn a profit.
“When COVID shuts the door on brick-and-mortar stores, the door to ecommerce opens.”
Warrp boasts several first-to-market initiatives including a dynamic crowd and community machine learning pricing system, featured video listings, a PayID-only wallet top-up and withdrawal payment function, escrowed transactions, and its Safe Meetup & Pickup delivery method.
To track Warrp’s investment round and to get all the latest, visit Warrp’s Crunchbase Profile, and keep up to date with the latest news by bookmarking Warrp’s Press Room. Warrp is available to download on iPhones via the Apple App Store, and will be available on all other smart phone and web devices shortly.
About Warrp: Warrp is an innovative marketplace platform that takes the hassle out of buying and selling pre-owned goods with a world-first dynamic crowd and community valuation pricing system called Warrping, a Safe Meetup & Pickup partner network, in-app rewards program, and a secure Escrow facility on all transactions. Warrp’s end-to-end experience is designed to make it safer and more convenient to buy and sell pre-owned electronics, furniture, clothes, shoes, collectibles, memorabilia and more online. Warrp is available for use in Australia and has a vision to grow its presence globally as a reputable marketplace built on strong community values, innovation, safety and ease of use. Discover a marketplace where you are in control of the journey and destination. Just Warrp It!
Media Contact: https://warrp.it/contact-us/
Press Room: https://warrp.it/press-room/