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Faircado founders at Slush stage receiving award for winning startup competition

Faircado wins €1M in Slush 100 competition

Faircado won the world’s biggest start-up competition at Slush 2023 in Helsinki. Following the necessary due diligence, the winner of Slush 100 gets a €1M equity investment from the leading early-stage funds in Europe: Accel, General Catalyst, Lightspeed Venture Partners, NEA, and Northzone. These well-known funds have backed companies like Meta, Stripe, Airbnb, Snap, Uber, Spotify, Salesforce, Instacart, and Klarna.

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Winning picture of Faircado at Slush 2023

Faircado Won Slush 100 Start-Up Competition in Helsinki

Berlin-based Faircado received an equity investment from the leading early-stage funds in Europe: Accel, General Catalyst, Lightspeed Venture Partners, NEA, and Northzone. These iconic funds have backed historic companies like Meta, Stripe, Airbnb, Snap, Uber, Spotify, Salesforce, Instacart, and Klarna, total 1M euros.

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FAQ

Faircado is an AI-powered browser extension that helps you find the best second-hand alternatives when shopping online by searching for the best alternative for you from a database of over 60 million products from +55 different trusted partners.

Faircado was founded for one reason – to transform our current linear economy into a circular economy. Globally, 9,000 smartphones and the equivalent of an entire rubbish truck full of clothes end up in a landfill every second. Overall, only around 9% of the world’s resources are reused multiple times as part of the circular economy. This means that more than 90% of our resources have no additional value after their first use and remain as “waste” in our ecosystems. With Faircado, we want to help change this broken system by encouraging people to buy second-hand whenever possible.

The prices for used products are usually significantly lower than their new versions. They are usually at least 50% cheaper, but sometimes even up to 90%. This means that you can save a lot of money if you decide to buy second-hand instead of new. Buying second-hand is also more sustainable for the environment. For example, the fashion industry alone is responsible for 8-10% of global emissions. In some regions of the world, such as the Atacama Desert in Chile, a mountain of unused fast fashion clothing has grown so large that satellites can take clear pictures of it. Imagine how many people could have used these clothes. In general, second-hand products are better because they do not require new resources, do not cause pollution and do not require new energy to produce. For example, it takes about 2700 litres of water to make a T-shirt. That’s enough water for one person to drink for 900 days. If you choose to buy second-hand items instead of new ones, you immediately reduce the demand for new items and thus reduce the pressure on manufacturers to produce these items in large quantities.

A browser extension is a small software program that you can add to your web browser to improve its functionality and customise your browsing experience. Grammarly, for example, is a browser extension that checks your texts for grammar, spelling, punctuation and style errors.

Faircado partners with more than 50 platforms selling second-hand products, such as eBay, Back Market, Grailed, Rebuy and Vestiaire Collective.

Faircado is entirely free for you. When you purchase something through us, our partners (the second-hand platforms) give a small commission, as a thank you for bringing one more customer.

All visual materials, such as team headshots, logos or typefont can be found in our media kit.

For further information regarding collaborations, interviews, official statements or media coverage, we recommend getting in touch directly with press@faircado.com.

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