Faircado, an AI-based second-hand platform, has won one million euros 💸 in a renowned European startup contest.
Last week, Helsinki hosted the Slush conference – a dynamic tech event that draws over 10,000 startups, investors, and enthusiasts annually to Finland. There, investors evaluate 100 selected startups and determine the winner, who gets the grand prize of €1M 🔥
This year's Slush 100 winner is Berlin-based AI service Faircado. The company has developed an AI-powered browser plugin that automatically finds cheaper second-hand alternatives when consumers shop online, offering consumers like-for-like items in a category of choice such as books, electronic appliances, and fashion.
❓ How does the service work?
When you browse an item in an online store, Faircado spots it and scouts for the same product on eBay or similar platforms, offering you a chance to purchase it at a lower price, second-hand from folks like Jack or Marcel.
Faircado partners with over 50 platforms selling second-hand products, such as eBay, Back Market, Grailed, Rebuy, and Vestiaire Collective. It’s compatible with Chrome, Firefox, Edge, Safari, and Brave browsers. The plugin is available for download on the website.
Evoléna de Wilde d‘Estmaell, the co-founder, highlights that Europe's secondary goods market has expanded by 50% within a year. However, it remains quite fragmented and inconvenient to navigate: "It's time-consuming, endlessly scrolling through confusing websites." Faircado is here to streamline this experience.
Source: https://tech.eu/2023/12/01/faircado-wins-eur1-million-in-slush-100/
