If a consumer wants to sell their used product, they currently do not receive payment until the product has been inspected. This means that the user cannot pay for new online purchases with the value of the used items. EALYX solves this problem by enabling instant discounts when trading in used products for a new online purchase.
By leveraging existing Buy Now Pay Later solutions, the estimated trade-in value is instantly discounted from the new purchase. Once the traded-in product is physically validated, the consumer credit is paid off.
credit: EALYX
Another service offered by the company is providing a refined “buy second hand” or circular economy experience. To this end, EALYX will involve several buyers of used products (buy-back partners), making the trade-in a transaction that is independent of the category of the product bought and sold. EALYX’s vision is to change the consumer paradigm and create a “currency of physical things” in which used items also have a value for new purchases.
In the few months of its existence, the company has aroused great interest in the market, enabling it to carry out its first investment round with numerous Spanish venture capital funds, such as Demium Capital, Archipelago Next, Ona Capital, and others.
EALYX´s future plans include an accelerated product development, expansion into new markets, and a substantial increase in orders and transactions facilitated by its platform. Recently, the company has raised 880,000 euros, which it will complement with non-dilutive funding to complete an overall raise of 1 million euros.
Alex Corbacho
Co-Founder & Managing Director at EALYX
credit: Alex Corbacho
