Warrp (Seed Investment)

Warrp is a dynamically crowdsourced and vetted p2p marketplace for second hand collectibles, electronics, luxury wear and vehicles.

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Warrp is a p2p vetted buyers and sellers platform that uses a dynamic crowdsource pricing system and an in-built escrow PayID only wallet with a safe meetup partner delivery network for second hand collectibles, electronics, luxury wear and vehicles.

Why Warrp?

Warrp is the only second hand goods platform that will be tackling the issues of safety and pricing fairness.

When buying and selling second hand goods, 19% of the market has either been scammed, assaulted or robbed. 22% prefer to meet up somewhere publicly that is safe and 60% believe that using escrow would be a better way to trade second hand goods. 57% will research to sell at a fair price and 47% will negotiate before buying.

*Stats from Australian Second Hand Goods Consumer Study 2021.

  • Safety is provided with the optional use of a low fee in-built escrow wallet facility and a safe meetup and pickup geo-locator recommender from vetted localised businesses.
  • Fair pricing is provided with the only available crowdsourced machine learning pricing system developed by Warrp that provides a fair market price update every 12 hours automatically.
Market Opportunity

  • The Total Addressable Market (TAM) of second hand goods in Australia is $46b.
  • The Serviceable Addressable Market (SAM) within the collectibles (16%), electronics (30%), luxury wear (19%) and vehicles (8%) categories brings this to $33b.
  • The Serviceable Obtainable Market (SOM) with likeability to escrow (60%), preference to meet publically at a safe location (22%), interest in pricing research before selling (57%) and to negotiate before buying (47%) gives us a weighted percentage of 46% and a $15b second hand goods value market opportunity. 
*TAM data from Second Hand Economy Report 2020.
*Stats from Australian Second Hand Goods Consumer Study 2021.

Latest Traction

(Last updated: 1/9/2021)

Warrp launched its iOS App at the end of May 2021 and with minimal marketing budget acquired

  • 1,794 users that listed 1,156 items worth $257,664 and delisted (sold or otherwise) 258 items worth $59,719.
  • 17 active trial partners predominantly in Melbourne in its Safe Meetup & Pickup network.
Warrp will launch its Android & Web App in September 2021 to cater for the missed 70% of the total market of users.

*Stats from the Australian Second Hand Goods Consumer Study 2021 show that 48% use a web platform, 44% use a mobile app, 2% use a classifieds newspaper and 6% use garage sales as their medium to buy and sell second hand goods.

Mission / Vision

Warrp aims to eradicate fraud and make prices fair when buying and selling second hand goods by providing the safest and smartest marketplace.

Ethos

Always being there.

Business Model

Primary Revenue Stream (Optional Escrow Fee): Warrp is a free to use social enterprise platform that provides the option to users that prefer to protect their transaction with an escrow payment. When this happens, the seller is charged 4.99% of the transaction value with a capped fee of $49.99.

Secondary Revenue Stream (SaaS MRR + Optional Escrow Fee): For second hand goods dealers that are interested in purchasing from our sellers at lower prices for reselling purposes, we charge a $49.99 monthly fee to provide the dealers with access to this functionality. In these instances and if escrow is used, the dealer will be charged 4.99% of the transaction value also capped at $49.99.

Our Strengths

Warrp is led by three key founding team members with three different yet very important functions to equip and grow the business.

  • Visionary business entrepreneurship (Matthew Ng, Co-Founder & CEO)
  • Product and technology know-how (Roman Granovskyi, Co-Founder & CTO)
  • Financial acumen and strategic planning (Vince Naselli, Shareholder & CFO)
The importance of attracting key talent and bringing in the best will start from the top. From industry experience and networks, the three founding leaders will bring in the best organisational personnel into Warrp and will continually cultivate a culture of unity, teamwork and passion.

Traction, Revenue & Staff Goals

  • 2021 - Active Users: 20,197, Total Listings: 30,296, Listings Value: $19m, Revenue: $48,625, Staff: 11
  • 2022 - Active Users: 115,652, Total Listings: 231,250, Listings Value: $150m, Revenue: $1.9m, Staff: 43
  • 2023 - Active Users: 315,625, Total Listings: 631,250, Listings Value: $410m, Revenue: $8.1m, Staff: 48
  • 2024 - Active Users: 982,291, Total Listings: 1.9m, Listings Value: $1.2b, Revenue: $24.6m, Staff: 77
  • 2025 - Active Users: 1.6m, Total Listings: 3.3m , Listings Value: $2.1b, Revenue: $49m, Staff: 86\
Funding & Exit Goals

  • Seed (Aug-Sep 21)
  • Series A (Sep 22)
  • Series B (Dec 23)
  • Series C / IPO (Dec 25)
Main Market Focus

Australia

Business Type

  • Marketplace
  • SaaS
  • FinTech
  • Mcommerce
  • Social Enterprise
More Information

Depending on the investor's time, Warrp has organised two downloadable decks to look at in order of shortest to longest timeframe:

Pitch Deck: A condensed overview of Warrp.
https://warrp.it/investor-deck-aug-2021/

Extended Deck: A descriptive overview on Warrp and key related links to 5YR Financials, Enterprise Value Plan, HR Plan, Business Growth Plan, etc.
https://warrp.it/extended-deck-warrp/

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