Swedish firm Blinto raised €10.6 million as it looks to enhance its machinery selling platform technology and expand across European markets
The investment came from sustainability investors Verdane.
“Blinto provides a sustainable solution which extends the lifetime of construction machines, utility vehicles and tools that would otherwise go to landfill. The company’s impressive growth and customer retention rate are a testament to its high-quality offering, and we look forward to partnering with Richard and his talented team to capitalise on Blinto’s strong position to become a true European market leader,” says Max Carlsen, Principal at Verdane.
Blinto’ platform gives users the opportunity to resell used machinery, which in turn creates a circular economy for large machinery items. The online auction platform to sells used heavy machinery, trucks and light commercial vehicles (LCVs) with detailed specifications, images, and video footage of the item’s condition.
“There is a great need for buyers and sellers of heavy machinery to connect easily and efficiently, and we are proud of our ability to deliver just that. Verdane’s track record in e-commerce and scaling digital businesses and its in-house expertise will be invaluable as we embark on the next stage of our growth journey,” says Richard Nilsson, CEO of Blinto.