Dondo raises $2.1M for exchange marketplace

LatamListDondo, a digital marketplace, raised a $2.1M Seed funding round led by the co-founders of Zoom and Yahoo. Eric Yuan and Jerry Yang were also joined by Ryan Smith, CEO of Qualtrics, Geoff Yang of Redpoint Ventures, George Zinn from Microsoft, and others.

Dondo is an online marketplace for used and unwanted possessions. Instead of paying with money, buyers can make an exchange for other possessions, offer their skills or services, or a combination of all three. In the past three months, the platform experienced growth of 1520%.

“Dondo is a platform that allows its customers to use their possessions or skills to make an exchange, promoting sustainability for the environment at the same time as giving customers what they want. This is a very uncommon model with great global potential,” said Yang.

The Dondo founders aim to optimize customer satisfaction by ensuring online safety and reducing opportunities for fraud on the platform. Transaction and seller identities are verified via video, and certified images or videos of each object must be provided before it is listed for sale. 

The Seed funding will be used to build the Dondo team, improve customer experience, and consolidate their presence in the market.

Read more on Forbes.

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