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EALYX raises 1 million euros for its circular economy SaaS for e-commerce

Ealyx SaaS for Circular economy

The platform leads the Circular economy transformation by allowing consumers to make new purchases with used products instantly, in addition to money.

BARCELONA, BARCELONA, SPAIN, May 15, 2024 /EINPresswire.com/ -- - Although people is becoming increasingly aware of sustainable-related practices, there is still a huge gap in circular consumption adoption in Europe. 85% of electronic waste and textile elements are still disposed of without even being recycled.

- Top south European early-stage venture capital funds take part in the investment: Demium Capital, Archipelago Next, Ona Capital, First Drop VC, Coben Ventures, Lanai Partners, Plug&Play Ventures, Tres Coronas Capital, and prominent European ‘business angels’.

EALYX, the revolutionary European SaaS platform for e-commerce and brands that facilitates trade in with instant payment to the consumer, today announced an 880,000€ capital increase that will complement with non-dilutive funding to complete an overall of 1M€ in funds. The company was founded a few months ago by Àlex Corbacho, Pol Karaso, and Jaume Benet.

The investment is done by Demium Capital, Archipelago Next, Ona Capital, First Drop VC (Impact fund), Coben Ventures, Lanai Partners, Plug&Play Ventures, and Tres Coronas Capital as well as top business angels like Fernando Cabello-Astolfi (Cofounder & CEO of Aplázame and Devengo), Jaume Betrian (Founder and former CEO of Ofertia and former Managing Director of Flax & Kale), Iván Párraga (ex-CTO of Sequra), David Sanmartin (co-founder of Nothing), Amit Gilon and other business angels that complement the company with its extensive experience.

The circular economy seeks to redefine patterns of production and consumption, changing the sequence of extraction, manufacture, use, and disposal for a more sustainable one in which factors such as reuse, repair, and recycling come into play. The implementation of the circular economy generates interest in businesses, but its implementation does not usually have an impact on short or medium-term profitability, and many companies end up not prioritizing circularity in their models.

In the EU, only 11.5% processes are circular, and in recent years there has been a stagnation in its progress; in fact, 85% of electronic waste and textile elements are still being disposed of without them being even recycled. This data highlights the need to promote and support initiatives that encourage recycling and reuse easily and effectively for producers and consumers.

Currently, a consumer does not cash in his traded-in products until these have been inspected. This prevents the user from paying new online purchases with the value of traded-in items. EALYX solves this problem by allowing instant discounts when trading in used products during a new online purchase.

EALYX is a B2B SaaS that allows consumers to pay for new purchases with used products, in addition to money.

The technology integrates Trade in as a payment method within eCommerce and provides instant discounts to the consumer when selling their used products while making a new online purchase. By leveraging existing Buy Now Pay Later solutions the estimated trade-in value is instantly discounted from the new purchase before the product sold is inspected. Once the traded-in product is physically validated, the consumer credit is paid off. This way, EALYX allows e-commerce to increase used-products recovery with no financial risk while benefiting from giving consumer discounts during the new purchase.

In addition, the company will integrate multiple buyback partners to make the trade in agnostic to the product category. With EALYX, it is possible to purchase a computer by paying in part with a used bicycle, for instance. The company’s vision is to create “the currency of physical things” where used items are used to pay for new purchases.

Since its recently creation, the company has generated great market interest, raising its first round of investment with top south European early-stage venture capital funds. "This investment round will allow us to accelerate product development, expand our reach, and enhance the implementation of our solution in leading companies," explains Pol Karaso, co-founder of EALYX.

“We are creating a new category and with this capital raise, the company is well positioned to lead the space and prepare to grow internationally. We plan to generate the first thousands of new purchases paid with used products in the coming months and grow 8x our orders by 2025”. explains Àlex Corbacho, co-founder of EALYX.

About EALYX
EALYX is the first and only e-commerce technology that allows consumers to trade in their used items in exchange for an instant discount during a new purchase while generating a positive impact on the business and the environment. EALYX works for a circular future where used items are a form of payment, enabling e-commerce to be at the heart of such a transaction. For more information: https://EALYX.com/.

Claudia Giraldo
Bambu PR
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