ListUp has raised $500,000 seed funding led by Kae Capital with the participation of Kunal Shah (FreeCharge, Chairman) and Sandeep Tandon (Tandon Group).
Also, founder of Kae Capital Sasha Mirchandani will be joining the board of the company.
Founded by Sumit Gupta, Pulkit Gupta and Saurabh Jain, ListUp was launched in January 2016.
The app allows users to buy and sell used items through their smartphone. Centred around geographical proximity, ListUp enables people to discover interesting goods being sold in their neighbourhood.
The investment will be used for product enhancements such as utilising data to give personal recommendations, offline and online marketing and also creating network density in the target markets.
Sumit Gupta, Co-founder & CEO, ListUp, said, “This problem particularly excites me a lot, it’s is 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 & selling of used goods easier, safer and much faster.”