Prague-based Bookbot, a leading online platform for second-hand books, has raised €4M in a Series A funding round, valuing the company at over €20M. The new investment aims to help Bookbot expand its market presence, particularly in the DACH region, which includes Germany, Austria, and Switzerland. The funding round was led by Genesis Growth Equity Fund I, with participation from existing investor Miton.
In past years, Bookbot has shown significant growth since its founding in 2019. Initially focused on the Czech market, the company expanded to Slovakia in 2022, and more recently, to Austria and Germany. Bookbot’s strategy has consistently aimed at improving customer experience and convenience in the second-hand book market. Prior funding rounds had enabled the company to build a robust inventory and streamline operations, setting the stage for this latest round of growth.
Customer-Centric Approach
Bookbot CEO Dominik Gazdoš emphasized the company’s focus on customer satisfaction.
“We are convinced that in order to create a first-choice product for second-hand goods on the market, we have to be radically customer-centric. That is why we spend a lot of time speaking with our customers to identify practical and innovative technical solutions that make our service as comfortable and easy as possible.”
Gazdoš added that the company is well-prepared to accelerate its growth in the DACH market and beyond, aiming to provide a top-notch customer experience by addressing common issues associated with second-hand goods.
Expanding Services
Bookbot offers two main methods for customers to donate their used books: drop-off points at Thalia stores in Vienna and a “Book-Bote” home pick-up service in Vienna and Berlin, in collaboration with logistics expert DODO. These services ensure that unwanted books find new owners quickly, enhancing the overall customer experience and sustainability of the initiative.
In a LinkedIn post, Bookbot expressed their excitement about the potential for growth in the DACH region.
“We’re ready to speed up our growth in the DACH region and beyond! Since starting in Prague in 2019, we’ve become the biggest seller of second-hand books in Czechia, expanded to Slovakia in 2022, and now we’re in Austria and Germany too!”
Bookbot has sold over 5 million books, with more than 750,000 shipped to their DACH warehouse, signaling a strong demand for their service.
Bookbot has a clear vision for the future, leveraging its new funding to enhance its infrastructure and customer service. The company plans to double its revenue to €24M by the end of 2024, expecting the DACH market to contribute to half of its total revenue by 2025. This reflects Bookbot’s successful expansion strategy and its commitment to scaling sustainably.
Bookbot’s latest funding round reflects its impressive growth trajectory and future potential. With a focus on customer-centric solutions and sustainable logistics, the company is well-positioned to capitalize on the growing market for second-hand books. The new funding will enable further expansion and service enhancements, making Bookbot a key player in the European second-hand book market.
