Prague-based Bookbot has raised €4 million in Series A funding, propelling its valuation beyond €20 million. Led by Genesis Growth Equity Fund I with support from existing investor Miton, the new capital will drive Bookbot’s expansion in the DACH region.
Since its inception in 2019, Bookbot has become the leading seller of second-hand books in the Czech Republic. The company expanded into Slovakia in 2022 and entered Austria and Germany in 2023. This latest investment aims to accelerate growth in these markets.
Bookbot, which allows users to buy and sell used books, has facilitated the sale of over 5 million books to date. In the DACH region, customers have already sent 750,000 books to Bookbot’s warehouse. The company enhances convenience with drop-off points at Thalia stores in Vienna and a “Book-Bote” home pickup service in Vienna and Berlin, in collaboration with DODO.
Dominik Gazdoš, CEO of Bookbot, emphasized the company’s commitment to customer-centricity, stating, “We focus on making our service as user-friendly as possible by addressing customer needs and creating a top-notch experience. With the backing of Genesis and Miton, we are ready to accelerate our growth and overcome challenges associated with second-hand goods.”
The re-commerce sector continues to grow, driven by increasing demand for sustainable and affordable options. Bookbot expects its revenue to double to €24 million by the end of 2024, with the DACH market projected to account for 50% of its revenue by 2025.
Genesis Investment Manager Ondřej Pernica praised Bookbot’s approach to sustainability and its strong leadership, noting, “Bookbot is well-positioned to replicate its success in new markets thanks to its innovative solutions and clear vision.”
Miton’s Michal Jirák highlighted Bookbot’s impressive growth and strategic partnerships, adding, “Bookbot’s commitment to customer orientation and its rapid expansion are clear indicators of its potential for success in Western Europe.”
