Unsatisfied with the hurdles in second-hand furniture sales, this entrepreneur establishes her own platform, AptDeco, which has garnered over $20 million in funding.
In the ever-evolving landscape of online marketplaces, one company is making waves in the second-hand furniture sector: AptDeco. Launched in 2014 by Reham Fagiri, a graduate with a BS in engineering and an MBA, AptDeco has quickly become a go-to platform for those seeking high-quality, pre-owned furniture.
The company, which was incubated in the prestigious YCombinator accelerator, has attracted significant investment, with $20 million raised in angel and venture capital. AptDeco's unique selling proposition lies in its commitment to providing a seamless, safe, and convenient shopping experience. With features such as online purchasing, a dispute process, and nationwide shipping, AptDeco stands out in a crowded market.
The second-hand furniture market in the U.S. is projected to reach a staggering $186 billion by 2024, with a compound annual growth rate of 17.2% from 2025 to 2035. This growth is driven by several factors, including the increasing demand for affordable options and the strategic moves of retailers to capitalize on this trend. Indeed, B-Stock reported a 30% year-over-year increase in new buyers in the furniture category, indicating a robust growth in this sector.
AptDeco's success is further evidenced by its impressive customer base, which is predominantly residential buyers, with 78% of purchases made for homes. The company's most extensive customer base can be found in New York, New Jersey, and Connecticut.
However, AptDeco is not without competition. Companies like Chairish and Kaiyo also operate in the second-hand furniture market. Yet, AptDeco's focus on safety features, such as integrated payment and shipping options, sets it apart from platforms like Facebook Marketplace and Craigslist, which lack these protections.
The appeal of second-hand furniture may also be growing due to tariffs, as consumers seek better value amidst rising costs elsewhere. In fact, the global second-hand furniture market is expected to reach $57 billion by 2030, up from $34 billion in 2023.
AptDeco's business model has also attracted the attention of large furniture brands, who are turning to the company to re-sell furniture via private-label sites it creates for them. This partnership not only provides an additional revenue stream for the brands but also offers consumers the opportunity to buy popular furniture brands like West Elm, Jonathan Adler, and Pottery Barn for up to 70% off.
Moreover, AptDeco's environmentally-friendly approach resonates with consumers who are looking to make more sustainable purchases or save money by purchasing used, remanufactured, and refurbished furniture. By diverting close to 20 million pounds of furniture from landfills, AptDeco is making a significant contribution to environmental conservation.
As President Trump touts tariffs as a way to bring furniture-making back to the U.S., the domestic furniture industry is currently seeing a decline in orders. In this context, the resale market, represented by companies like AptDeco, offers a promising alternative for both consumers and retailers.
With a cumulative revenue of just under $100 million and expectations of becoming fully profitable this year, AptDeco is poised to continue its growth trajectory in the second-hand furniture market.
- AptDeco, a second-hand furniture platform, has attracted significant investment, reaching $20 million from angel and venture capital, making it a notable player in the industry.
- The second-hand furniture industry is projected to reach an impressive $186 billion by 2024, driven by factors such as affordability and retailer trends.
- AptDeco's customer base mainly consists of residential buyers, with 78% of purchases made for home-and-garden purposes.
- In the face of competition from companies like Chairish and Kaiyo, AptDeco's focus on safety features, such as integrated payment and shipping options, sets it apart from platforms like Facebook Marketplace and Craigslist.
- Tariffs are driving consumers towards second-hand furniture markets, with the global second-hand furniture market expected to reach $57 billion by 2030.
- AptDeco's partnership with large furniture brands allows brands to re-sell furniture via private-label sites, offering consumers discounts of up to 70% on popular brands like West Elm, Jonathan Adler, and Pottery Barn.
- AptDeco's focus on sustainability and conservation, as it diverts close to 20 million pounds of furniture from landfills, resonates with consumers interested in sustainable-living and personal-growth.
