ListUp, an App to Buy and Sell Used Goods, Raises INR 3 Crores From Kae Capital and Freecharge Founders

MUMBAI, June 8, 2016 /PRNewswire/ --

Mumbai-based ListUp: Local Buying & Selling App that lets you discover and sell interesting items around you, has raised $500,000 in its seed round of funding led by Kae Capital with participation from Kunal Shah (Freecharge, Chairman) and Sandeep Tandon (Tandon Group). Sasha Mirchandani (Founder, Kae Capital) will be joining the board with this round of funding.

Founded by Sumit Gupta, Pulkit Gupta and Saurabh Jain, ListUp was launched in January 2016 with a vision to disrupt age-old classifieds in India. ListUp is focused on P2P exchange of second-hand goods, which aims to bridge buyers and sellers using technology in a way that was never done before.

What differentiates ListUp from other players in this space is it's location-based discovery of products and social approach to classifieds. Unlike existing classified platforms where there is no real seller identity, all ListUp users are socially verified that leverages social connections to solve the problem of trust in the transaction. With 100% MoM verified user growth and with an average active user spending around 15 minutes per day on the app and active sellers spending 30 minutes daily, ListUp claims to create a product that people can use to discover and sell things within their neighbourhood in the fastest possible way.

Sumit Gupta , Co-founder & CEO, ListUp, is excited about the opportunity ahead. "This problem particularly excites me a lot, it's a huge opportunity in India and there's lot more innovation that can be done in the used-goods space using technology. With the increasing smartphone adoption and our unique approach to age-old classifieds, we're making buying and selling of used goods easier, safer and much faster," he says.

It is based on the simple idea of letting individuals buy and sell used items in an easy and efficient way through their smartphone. Centred around geographical proximity, ListUp enables people to discover interesting goods being sold in their neighbourhood, thereby minimising the time between contacting the seller via direct chat and meeting them in person.

Having a significant range of products, varying from guitars, speakers, mobiles and even drones, ListUp is synonymous to a second-hand shopping mall. In India, an average Indian hoards at least 20,000 worth of items they don't use anymore and can turn it into real cash. Since its launch in Jan' 16, number of listings on the app are increasing by 300% MoM and interesting products worth millions of dollars have already been listed on the app.

Shubhankar Bhattacharya, VP at Kae Capital, said, "Sumit, Pulkit and Saurabh represent an exceptional trio of scrappy entrepreneurs. What they have created at ListUp is an easy-to-use and fun way to buy and sell used-goods. In many ways, they are redefining the shopping experience for the large and rapidly growing market for used products, and we are happy to partner with them on this exciting journey."

ListUp is bringing a mobile approach to traditional classifieds and is revolutionizing the way how people buy and sell second-hand goods. With an incredibly easy-to-use product, it allows users to instantly reach out to all prospective buyers nearby and thus enabling quicker and safer transactions. With this round of funding, the team is aiming to build technology for connecting relevant buyers & sellers with personalized feed using data, product enhancements, and creating network density in the target markets.

Click here to know more about ListUp or check out the official release. Download ListUp app on Playstore and AppStore here.

Media contact:
Sumit Gupta
[email protected]
+91-9619281381
Co-Founder & CEO
ListUp