Panjo Raises $1.6 m of Seed Funding
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Santa Monica, California – Panjo, a marketplace for the world’s most ardent auto, sport, and hobby enthusiasts has raised $1.6 million of seed funding led by Spark Capital and backed by Bertelsmann Digital Media Investments, Lerer Ventures and Mesa.
“Enthusiasts are some of the most passionate buyers and sellers in the digital commerce marketplace, but they are too often met with frustrating and fragmented experiences when dealing with peer-to-peer communities,” said Panjo CEO Chad Billmyer. “Panjo seeks to make things easier for the enthusiast through a well-organized listings section and the implementation of a simple ‘list, pay and ship’ structure. We have already generated 25 times better sell through rates than our biggest competitors.”
The new capital will be used to grow the company’s marketplace and partnership with other hobbyist networks.
Funding Total: $1,600,000
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|Investors: Spark Capital, Bertelsmann Digital Media, Lerer Ventures|