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Dutch local borrowing platform Peerby bags 1.7 million

30 October 2014 12:23
By Tornado Staff

Amsterdam-based Peerby has raised 1.7 million in an investment led by XAnge Private Equity. Existing shareholder Sanoma Ventures also participated in this latest round, as well as TechStars and business angels from Canada and the US. The proceeds will be used for product development and international growth, with a specific focus on the US.

Peerby is a website and app that enables users to borrow things they need from people nearby. The platform was launched in September 2012 and currently boasts more than one million items from 100,000 users in the Netherlands and Belgium, London, and Berlin. Peerby is currently present in eight US pilot cities and wants to expand its US presence to 50 cities next year.

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