US-based, corporate-backed second hand furniture selling platform Move Loot has shut down and sold its customer list to home services provider Handy, TechCrunch has reported.
Move Loot operated a full-service curated marketplace for second-hand furniture. It expanded quickly after its 2013 launch but proved unable to maintain a strong service across its US markets and customers had recently begun to complain about listings not being accepted and goods not being delivered.
The company confirmed in a blog post it is shutting down, and Handy is acquiring its customer list, though not its business, employees or other assets.
Move Loot had raised approximately $21m in total, securing $2.8m in a June 2014 seed round featuring internet and technology conglomerate Alphabet’s Google Ventures unit, First Round Capital, Index Ventures, SV Angel and Y Combinator.
Metamorphic Ventures led a $9m series A round in February 2015 that included media and data firm International Data Group, First Round, Index Ventures, Great Oaks and Sherpa Ventures before adding $9.4m in July according to a regulatory filing.