Details

Last Funding Type

Series A

Last Funding Money Raised

$10M

Industries

Sharing Economy,Sustainability

Founded date

Jun 5, 2019

Number Of Employee

11 - 50

Operating Status

Active

Flyp raised a $15 Million to put an end to the problem of landfill waste by using AI to resell it through millions of online sellers.

But, why? Because the government won’t fix it, and big corporations won’t fix it, and $1 donations at checkout won’t fix it. So we chose to arm the people to fix it. We’re doing it by empowering millions of everyday people, stay at home moms, college students, and small entrepreneurs, to fix it. We are providing them with the technology and capital needed to save more than $200 Billion worth of used goods from being thrown into landfills every year and flipping this waste into profit. Turning it into cash, creating jobs, and flourishing an economy of people-owned sustainable businesses.

The technology we’re building at Flyp:
Flyp developed two core products aimed at empowering an army of stay at home resellers to effectively resell and monetize millions of items that would have ended up in landfill otherwise:
1) AI driven platform to monetize used clothes: Flyp developed the first and only platform that allows individual consumers and businesses to offload their pre owned items to online resellers who will sell it for them on marketplace like eBay, Poshmark, Facebook and others for a commission. Think of Thredup or TheRealReal, but instead of a centralized company doing the selling, it’s done by a network of thousands of small, stay-at-home online resellers. The key to this platform is Flyp’s AI-enabled matching technology which uses Pro Seller’s historical sales data to algorithmically match inventory with the Pro Seller who is the best fit to resell it. This unprecedented matchmaking has already succeeded in moving over 160 metric tons worth millions of dollars that would have ended in landfills, and is growing quickly at a 400% annual growth rate.
2) Automation platform to give small sellers the power of big retailers: In order to process millions of items successfully, Flyp had to invest in empowering the network of individual resellers by bringing to them the workflow automation capabilities that had only been available to big e-commerce players at exorbitant prices. This is why Flyp developed a fully free automation suite that saves resellers 90% of the time they used to put into inventory management and sales management across channels. This suite of tools has succeeded in becoming the new operating system for resellers, so much so that 85% of its users are daily active users making thousands of sales a day on auto-pilot.

The impact of Flyp:
Flyp’s impact is not a virtue signaling side effect, Flyp’s impact is fully visible and tangible in every transaction that occurs on the platform:
1) Environmental impact: With the fashion industry’s landfill waste contributing to more than 10% of global carbon emissions, being able to save millions of items from ending up in landfills and recirculating them in the market is Flyp’s core business model and impact lever at the same time.
2) Social and economic impact: While most are used to environmentally friendly alternatives being more costly than the polluting ones, Flyp has actually always held the belief that “sustainability can pay back in cash”. And on our mission to save the environment, we are creating and supporting hundreds of thousands of jobs for small stay-at-home entrepreneurs around the country, enabling them to generate millions of dollars in income and allowing them to sustain themselves and their families and creating a massive amount of new jobs in sustainability. We are also providing millions of shoppers with affordable items at a massive discount from retail, and allowing them to participate in the circular economy and reducing their own carbon footprint all while making very tangible economic savings.

Flyp’s vision for the future and why it matters:
At Flyp, we believe that one of the biggest hidden problems we face as a consumerist society is the immense waste generated from our purchases. This enormous waste is not only catastrophic to the environment, but it also represents a completely wasted economic value that is robbing consumers and businesses alike from recuperating sizable portions of the cost of the goods they had already paid for, simply due to a failure in logistics. The future we’re already creating at Flyp is one where all this massive waste, is turned into prosperous jobs for hundreds of thousands of small stay-at-home entrepreneurs, who in the process of reselling what would otherwise have gone to landfills, will create a massive circular economic cycle benefiting consumers, businesses and the environment.