A circular economy platform lets neighbours share household items

One startup is on a mission to reduce consumption and waste by making it easy for people to share the things they own

Spotted: Dutch startup Peerby was founded with the goal of creating a sharing platform that enables neighbours to borrow and lend household items. The company aims to create a sharing economy that is more efficient and sustainable than traditional commerce. By making it easy for people to borrow what they need from each other, Peerby reduces waste and consumption, while also building stronger communities.

The platform enables neighbours to share everything from musical instruments and baby products to pet carriers and camping equipment. To borrow items, users search for a product near them. They must then verify their profile before liaising with the lender to arrange a pick-up time convenient to both parties. The borrower then uses the product and brings it back at a time pre-arranged with the lender. Peerby guarantees the items against damage or loss. So far, the company claims that its services have helped communities to save 42 million kilogrammes of carbon dioxide and 833,000 kilogrammes of waste.

The company has just raised €2.3 million in a funding round led by Toronto-based tech and impact fund Loyal. Donations have also been received from Dutch impact investor Shamrock Ventures and hundreds of crowdfunders.

With this latest infusion of cash, Peerby plans to grow in medium-sized Dutch cities before expanding its reach internationally. In addition, the platform aspires to reach the same level of sharing as in home town Amsterdam, where one in four households are a member of the platform.   

Founder and CEO of Peerby Daan Weddepohl said, “The support from members, crowdfunders and professional investors confirms that everyone is eager for an alternative to today’s hyperconsumption. We’ve always had social and ecological impact and the challenge was to become financially sustainable. Now that we have achieved profitability, the time is ripe to make neighborhood sharing mainstream.”

Other circular economy innovations recently spotted by Springwise a sustainable shopping platform that aggregates secondhand deals, a plugin that lets shoppers sell back their old clothes in exchange for real-time store credit, and circular babywear that offers a monthly romper subscription.