Renow, a Nordic startup transforming the handling and resale of returned and second-hand goods, has secured €1.8 million in seed funding. The investment will fuel the expansion of its AI-driven recommerce infrastructure across Northern Europe, including the opening of new hubs in Sweden and Norway and upcoming market entries in Denmark and the Benelux region. The round was led by Greencode Ventures, with continued backing from Superhero Capital and Street smart Capital.
The company delivers an end-to-end solution for product returns, integrating remote inspections, grading, and resale capabilities. This offering removes the need for merchants to establish in-house return and resale infrastructure. Through a combination of freemium software tools and a third-party logistics (3PL) network, returns are processed locally and resold efficiently via a dedicated marketplace or whitelabel outlet integrations.
Renow’s platform utilizes agentic AI to support every stage of the return and resale workflow. This includes gathering accurate return data, guiding warehouse teams in product quality grading, and auto-generating detailed resale product cards. The automation layer reduces manual processes and enables faster inventory turnover and greater operational control.
“Returns are a massive operational challenge for retailers. Returned products often spend months in warehouses, require manual quality grading, and are sold in bulk at poor prices. This means merchants lose money, and consumers don’t get access to nearly new products. Our vision is to eliminate middlemen in the traditional second-cycle supply chain and make recommerce mainstream. Our logistics process, AI-assisted quality assessment, and resale platform turn returns from a headache to a viable and cost-efficient opportunity for ecommerce platforms,” says Kalle Koutajoki, CEO and co-founder of Renow.
The European return and second-hand goods sector represents a market exceeding €160 billion annually — comprising approximately €70–80 billion in ecommerce returns and €94 billion in resale of second-hand goods. Renow targets both segments by minimizing turnaround time and reselling open-box products through a verified and curated outlet. AI-supported product descriptions and grading ensure transparency, with items offered under standard buyer protections, including a 12-month warranty. Additional features include trade-in options, allowing consumers to exchange products for discounts or monetary returns.
In contrast to traditional centralized logistics models or bulk sales to wholesalers, Renow leverages decentralized third-party logistics hubs. This model accelerates turnaround times, reduces waste, and eliminates the need for internal warehousing operations—positioning the company as an agile alternative to players like Foxway.
“The circular economy is vital for reducing waste, and Renow addresses this by efficiently re-selling returned goods. With a strong focus on electronics and hard goods, Renow’s deep supply-side integration and automated operations position it well for the rapidly growing recommerce market, particularly in the Nordics,” says Terhi Vapola, Founder & Managing Partner at Greencode Ventures.
Currently supporting major retailers and marketplaces across Finland, Sweden, and Norway, Renow is set to expand into Denmark and the Benelux region. The business model emphasizes lifecycle extension and reuse while building a scalable recommerce infrastructure for commercial use. With year-over-year growth at 6x, the recent funding will support further development of the platform, expansion of the logistics partner network, and scaling of sales and product teams across Northern Europe.