Online marketplace sites are sure to gain leaps and bounds of advantages over the rest of the pack if they can somehow offer a unique and special feature that everyone else doesn’t. That has been the main drawing point of Grabr, the up-and- coming peer-to- peer market website that revolutionizes international shopping for everyone. And investors were quick to notice this.
Tech Crunch reports that the European-based website has just completed a funding round, garnering $3.5 million in seed by Aleksey Repik of RBV Capital. Another name present was N-Trans Group’s Konstantin Nikolaev, and a powerhouse gathering of investment people ready to help get the service off the ground.
Grabr’s market system at a glance sounds like a godsend for shoppers looking for international items or simply things that couldn’t be found or bought where they live; it also comes across as a fun way for regular worldwide travelers to make some extra cash as they get around.
The way it works is that a shopper on the lookout for an overseas product or thing will post a request on the Grabr website. Any international travelers who are interested may then search through the list of request until he finds one for something to be found in the very country or location he will be travelling to at the time. If he thinks he can purchase or acquire the item, he can reply to the request with a bid on the order, comprising the item price (if it’s to be bought) and expenses in traveling. If the shopper is okay with the bid, he accepts it and forwards a payment with the item price and an additional monetary reward for whoever might answer their order (custom fees included) through Grabr’s partner payment processor Stripe, which keeps the payment on hold and deducts a 7% service fee.
With a bid accepted, the traveler goes to the destination and uses his own funds to buy the product asked for like a fancy Parisian handbag not available in the US, or maybe acquire the product requested like beach sand from Copacabana put in a bottle. With the items at hand, the traveler can contact the shopper and communicate through Grabr’s built-in messenger service where they can arrange a place to meet one another.
That done, the traveler and shopper go to the agreed upon meeting place, the traveler delivers the item personally, the shopper confirms delivery on Grabr, and Stripe releases the held compensation for the traveler: reimbursed item price (if there is) and added reward money.
The Grabr management team states that their service already has about 50,000 shoppers and travelers conducting business in it, though they have yet to disclose how many transactions have been successfully completed in the site. They intend to use their newly acquired funding for purposes of expansion.
Visit Grabr at https://grabr.io/, or download their mobile app from the App Store.
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