Bookbot Funding news – Prague-based Bookbot Secures €4 Million in Series A Round Funding

After launching in Prague in 2019 and becoming the largest second-hand book seller in the Czech Republic, Bookbot expanded to Slovakia in 2022, Austria in the summer of 2023, and Germany in the fall of 2023. The investment aims to boost DACH growth.

While many are delivered by mail, Bookbot offers two other options to return used books: In Vienna and Berlin, Bookbot works with sustainable urban logistics expert DODO to offer the “Book-Bote” service, which picks up books directly from people's homes during self-selected pick-up slots. Thalia, Europe's largest book retailer, operates stores as drop-off points.

Dominik Gazdoš, CEO at Bookbot, said: “We are convinced that in order to create a first choice product for second-hand goods on the market, we have to be radically customer-centric. That is why we spend a lot of time speaking with our customers to identify practical and innovative technical solutions that make our service as comfortable and easy as possible. We are readily equipped to accelerate growth in the DACH market and beyond and will do so through systematically erasing the pains often falsely associated with second-hand by creating a top-notch customer experience. We’re happy to have the support of Genesis and Miton on this journey.”

The re-commerce market is growing at a very quick rate, and relevant players are reporting enormous growth numbers year after year. By the end of 2024, Bookbot expects its revenue to have doubled to €24 million year over year. In just two years after its debut, the DACH market is predicted to account for half of the company's entire income.

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Ondřej Pernica, Investment Manager at Genesis, said: “We see re-commerce as one of the simplest and most efficient approaches to sustainable and responsible customer behaviour. We were also impressed by the strong duo of founders and their indomitable desire to improve the business they are building and to find solutions to seemingly intractable problems and their clear vision to win large European markets. Thanks to all this, we believe that Bookbot is in a great position to grow further and repeat its success from Czechia and Slovakia.”

Michal Jirák, Investment Manager at Miton, added: “With Miton, we have been following Bookbot’s development since our first investment in 2021. The dedication of the team to go to the bottom of what radical customer orientation means paired not only with its incredible growth story in the Czech Republic that has propelled it to a market share of 5% in the book market but also its strong start in the DACH market coined among others by strong strategic partnerships leaves no doubt that Bookbot will be a successful case study for Western expansion.”

About Bookbot

Bookbot, restoring used books in Germany, Austria, Slovakia, and the Czech Republic. Over 5 million books have been sold by Bookbot since its founding, a platform that lets users purchase and sell books.