German startup ByeBuy, which offers an alternative to pay-as-you-go and on-demand gadget to property, raised € 1 million seed round. Supporters include Commerzbank subsidiary Home incubator, in addition to the venture arm Rocket Internet Founders Global Capital, Hannover Innovation Fund, KRW Schindler’s investments, and the previous Seedcamp investors.
The new capital will be used for the planned expansion of the United States, as well as finding new ways to supply that ByeBuy CEO and founder Michael Cassau, which was previously at Goldman Sachs and Rocket Internet, calls “shift the economy.” This will include working with online and offline retailers to offer ByeBuy optional test.
Just as you do not have to have a car to drive one run wants to make the gadget ownership thing of the past, providing consumers with the ability to use the latest technology on a monthly rental basis with the advantage that they can be switched or “update” at any moment.
“We offer people the opportunity to enjoy their favorite items on a fully flexible pay-as-you-go basis and to remove high explicit and implicit costs of access cold products,” said Cassau TechCrunch in June.
Since ByeBuy has strengthened about 1,000 members and is available in 4 countries: Great Britain, Germany, the Netherlands and Austria. It currently lists 200 or so products on its website and Cassau says start seeing “a very strong grip in all asset classes,” referring to Apple, watches, iPhones and MacBooks, along with the PS4 / Xbox, e-health / fitness trackers and a camera as a particularly strong products.
More interesting is the ability to model ByeBuy currently offered by online stores, and even traditional brick-and-mortar stores. “This means, for example, you can see us in the near future as a payment alternative in your favorite store e-commerce consumer technology, which in addition to the credit card and PayPal, you can see how ByeBuy new version ordering,” explains Cassau.
“Monthly price with no obligation, and do not buy or commission of 3-year funding. We step and buy it for you so you do not need. Switch and send back any time.”