Dutch online auction house Catawiki announces that they have picked up 10 million Euro in a Series B from Accel Partners, Project A Ventures, and private investors Arthur Kosten and Willem Sijthoff. Catawiki launched back in 2008 as a community for collectors, but then started handling online auctions in 2012.
Catawiki currently operates in Germany, the Netherlands, Belgium, and France, but they have attracted 3 million users. The company says that they intend to use the new funding to expand their operations across Europe and to expand their marketing team. It has 70 employees, including a 42 auctioneers, a figure that intend to rapidly expand.
At the moment, Catawiki says that they manage auctions in 35 different categories, while also boasting a catalogue of more than 2.3 million items. Auctions are held every Friday and a representative of the company says that they generate revenue by taking a small commission from the buyer and seller once a transaction has been completed.
Arthur Kosten has been pretty active this week, having also invested in curated search service ZEEF.