Renow Secures €1.8Million In Seed Funding For Its AI-Powered Recommerce Platform

The company plans to open new hubs in Sweden and Norway and expand into Denmark and the Benelux region.

Renow is changing the way returned and second-hand goods are processed and resold. It offers merchants an end-to-end solution for handling returns—including remote inspections, product grading, and resale—so they don’t need to build their own systems.

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The platform includes freemium software tools and access to a third-party logistics (3PL) network. This helps merchants manage returns locally and quickly resell items through Renow’s marketplace or custom white-label stores.

Powered by agentic AI, Renow supports the entire return and resale process—from collecting data for return requests to helping warehouse teams with grading and creating product listings. This automation reduces manual work, speeds up processing, and gives merchants better control over their inventory.

Kalle Koutajoki, co-founder and CEO of Renow, says: Returns are a massive operational challenge for retailers. Returned products often spend months in warehouses, require manual quality grading, and are sold in bulk at poor prices. This means merchants lose money, and consumers don’t get access to nearly new products. Our vision is to eliminate middlemen in the traditional second-cycle supply chain and make recommerce mainstream. Our logistics process, AI-assisted quality assessment, and resale platform turn returns from a headache to a viable and cost-efficient opportunity for ecommerce platforms.

The European market for product returns and second-hand goods is worth over €160 billion a year, with €70–80 billion from ecommerce returns and €94 billion from second-hand sales.

Renow tackles both areas by helping merchants quickly resell open-box products through a curated outlet. All items come with standard buyer protections, including a 12-month warranty. The platform also supports trade-ins letting customers exchange used products for discounts or cash.

Unlike traditional models that rely on centralised logistics or bulk sales to wholesalers, Renow uses local third-party logistics hubs for faster more flexible processing. This approach reduces waste and shortens turnaround times.

The €1.8 million seed round was led by Greencode Ventures, with continued backing from existing investors Superhero Capital and Street Smart Capital.

Terhi Vapola, founder & managing partner at Greencode Ventures, commented: The circular economy is vital for reducing waste, and Renow addresses this by efficiently re-selling returned goods. With a strong focus on electronics and hard goods, Renow's deep supply-side integration and automated operations position it well for the rapidly growing recommerce market, particularly in the Nordics.

Renow already works with leading Nordic retailers and marketplaces, operating in Finland, Sweden, and Norway, with upcoming launches in Denmark and the Benelux region.

The new funding will help Renow expand its platform, grow its network of logistics partners, and strengthen its sales and product teams across Northern Europe.

About Renow

Founded in 2022, Renow is an AI-powered recommerce startup with a unique approach to building marketplace supply. It transforms the supply chain using virtual warehouses and an AI-driven grading engine, offered to retailers and 3PLs through a freemium model.