With a 500% growth in crowdfunding for its ‘B2B’ projects within just one quarter, the Franco-Belgian start-up Enky is now preparing to launch an unprecedented offering of refurbished second-hand furniture from its new workshops. 

Riding a wave of enthusiasm from customers and investors alike, the company has doubled its workforce and opened its capital to the public, aiming to raise millions of euros through its own crowdfunding platform.

Having just launched its London subsidiary, Enky—the European pioneer in sustainable professional furniture solutions by subscription—is responding decisively to the growing demands of a rapidly evolving market.

“On one hand, the increasing pressure from ESG and CSR regulations, and on the other, the natural shift in attitudes, mean that the growth rate of second-hand sales in B2B is three times that of new items (see reference below),” explains Aïssa Laroussi, co-founder and CEO of Enky. “This trend is even more pronounced in our sector, where property owners, tenants, architects, and project managers are all seeking to reduce their carbon footprint by turning to more circular sourcing models.”

Demand is booming, while the availability of second-hand stock is immeasurable, following years of excessive waste. Enky is committed to bridging this gap through an innovative mechanism that offers professional furniture on a subscription basis, with the option for customers to either purchase the items or sell them back to Enky. This unique, sustainable, flexible, and cost-effective solution becomes even more appealing with the introduction of a new team of specialists, who will refurbish and, if necessary, modernize the furniture pieces before they are offered to clients.

“In our industry, it’s paradoxically the ‘first mile’ that matters most,” emphasizes Shari Dewannemacker, Enky’s Sales & Marketing Director. “To minimize transportation of goods by bringing supply and demand closer together, we will be opening two refurbishment workshops on the outskirts of Paris and London.“

In line with its revolutionary and agile business approach aimed at scaling its services internationally, Enky is taking charge of its own financing by inviting public investment. The startup is empowering itself to achieve its ambitions by opening its capital to everyone. This is unprecedented. Becoming a shareholder is now as simple as visiting their online platform, where investments are made with full legality and transparency, starting at just 1,000 euros.

In addition to the current investment options in Enky’s projects, which offer returns ranging from 6% to 8%, this new alternative investment opportunity presents an excellent chance for savers seeking both purpose and financial rewards.

“Two years ago, we thought we’d need to invest much more in educating the market, but it turns out the market itself is driving us forward, like a wave. Just the hospitality sector alone represents an incredible growth potential, alongside private companies and both public and private institutions,” concludes Aïssa Laroussi. “One particularly striking figure: circularity now represents a trillion-dollar market, and it’s expected to grow by 13% each year, reaching 25 trillion by 2050. (see reference below).”

References:

Circularity growth:

https://www.sphericalinsights.com/reports/circular-economy-market

https://www.marknteladvisors.com/research-library/global-circular-economy-market.html

Second hand growth:
https://www.grandviewresearch.com/industry-analysis/second-hand-furniture-market-report

More information: www.enky.com