Renow Nets $2.1M Seed Funding to Drive Recommerce Expansion
Deal News | Jun 20, 2025 | Aim Group
Finland-based startup Renow has successfully raised $2.1 million in seed funding to spearhead its expansion into Northern Europe. Specializing in returns as a service, Renow leverages AI to streamline product returns processes for merchants. The recent funding, led by Greencode Ventures and supported by Superhero Capital and Street Smart Capital, will enable Renow to enhance its recommerce service by opening new hubs in Sweden and Norway, with future plans targeting Denmark and the Benelux region. The startup aims to make returns more efficient through a blend of AI-driven operations that offer product grading, resale, and trade-ins, thereby propelling recommerce into mainstream retail. Renow's commitment to reducing waste in the circular economy positions it for growth within the booming recommerce market in the Nordics.
Sectors
- E-commerce
- Artificial Intelligence
- Circular Economy
Geography
- Northern Europe – Renow is based in Finland and is expanding its services in Sweden, Norway, Denmark, and the Benelux region.
Industry
- E-commerce – Renow provides services for processing and reselling returns for e-commerce merchants.
- Artificial Intelligence – Renow uses AI to enhance its product returns and resale processes.
- Circular Economy – Renow’s mission aligns with circular economy principles by facilitating the recycling and resale of returned goods.
Financials
- $2.1 million – The amount raised in seed funding by Renow to expand its business.
- €1.8 million – Equivalent amount of the seed funding in euros.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Renow | Target Company | Companies | A Finnish startup providing returns as a service. |
| Greencode Ventures | Lead Investor | Companies | The firm leading the seed funding round for Renow. |
| Superhero Capital | Investor | Companies | An existing investor in Renow. |
| Street Smart Capital | Investor | Companies | An existing investor in Renow. |
| Kalle Koutajoki | CEO and Co-founder | People | CEO and co-founder of Renow. |
| Terhi Vapola | Founder and Managing Partner | People | Founder and managing partner at Greencode Ventures. |