TipTop, the startup that provides instantaneous money for electronics, is launching TipTop Store: a approach for customers to buy and commerce in gadgets. TipTop Store builds on the success of TipTop Money, which was launched late final yr. It lets individuals get instantaneous payouts for digital gadgets like smartphones, iPads, cameras, sport programs and extra.
Many individuals promote previous gadgets so as to buy new ones, and generally they don’t at all times need the most recent and most costly mannequin. Historically, shoppers flip to promoting platforms or use trade-in packages that always give reward playing cards that may be put towards a brand new buy.
TipTop desires to take away the effort by combining each side of the equation. Individuals can purchase new, open-box and refurbished gadgets by way of money and trade-ins. “You will have this unified trade-in cart, which lets you commerce in something that you’ve got,” the startup’s founder, Bastian Lehmann, informed TechCrunch. Lehmann previously based Postmates.
“It doesn’t need to be from the identical model, it doesn’t even need to be a associated product,” he stated. “After which we do what we now have executed over the past yr, we immediately acknowledge the worth of the merchandise that you simply not want, and you may then buy issues with a reduction as a result of we’re taking your commerce in worth under consideration.”
Prospects can commerce in an previous Samsung Galaxy for a reduction on an iPad, an Apple HomePod mini for a Nintendo Swap, or an iPhone for a Nothing telephone. Prospects may make a purchase order with out a trade-in.
TipTop processes the funds by way of Stripe and handles the deliveries. Not like on platforms like eBay and Fb Market, shoppers aren’t shopping for merchandise on TipTop from different shoppers, because the gadgets are owned by the startup itself.
Lehmann teased that subsequent month, the startup shall be launching a brand new product that can give retailers the flexibility to run instantaneous buying and selling packages.
Thus far, TipTop has raised $23 million in Sequence A funding from buyers, together with Andreessen Horowitz (Marc Andreessen is on the board), plus OpenAI CEO Sam Altman, AngelList co-founder Naval Ravikant, and Pinterest, Coinbase, and DoorDash board member Gokul Rajaram.