Minimist, a Vienna-based AI-powered mobile app for second-hand retailers and charities, has raised €1M ($1.2M) in pre-seed funding led by Tilia Impact Ventures with support from InvestEU. The platform turns photos into detailed listings in under 30 seconds, including regional pricing, SEO descriptions, image enhancements, and virtual try-on models. The capital will fuel product development, team expansion, and European market growth.
AI Drives 23% Resale Growth Surge
The raise aligns with online resale jumping 23% in 2024, fueled by AI tools, projected to reach $40B by 2029. Fleek raised $20M in November 2024 for wholesale second-hand marketplaces. Minimist's mobile-first AI addresses charity shops' need for rapid online listings, unlike manual cross-listing tools like Vendoo or List Perfectly.
93% Inventory Stays Offline
93% of second-hand inventory never reaches online marketplaces, trapping value in physical stores. Charity retailers lose time on manual photo shoots, pricing, and descriptions, while high return rates from fit uncertainty plague unique items. Volunteers, including an 83-year-old user, struggle without tech-savvy tools.
Photo-to-Listing in 30 Seconds
Minimist's app scans photos to generate listings with 200+ attributes, accurate regional pricing from millions of sales, and cross-posting to eBay, Vinted, Shopify. Virtual try-on boosts click-through rates by 50%, conversions by 40%, and cuts returns by 30%. This equips non-profits like Helen & Douglas House, which hit £14,000 weekly eBay sales and 4x revenue growth.
As CEO Stephan Hofmann stated:
"We are giving the most beloved charities the same digital weapons as fast-fashion giants."
Impact Investors Back Circular Push
Tilia Impact Ventures led with InvestEU and EIF backing, joined by angels, family offices, and Wien Lebensqualität grant. This mission-aligned capital signals conviction in AI for circular economy, following Minimist's earlier €350k raise. Investors validate the team's traction: 150k listings created, 17k hours saved.
Resale Market Hits $198B Scale
Global second-hand apparel stands at $198B in 2025, growing to $486B by 2031 at 16% CAGR. Europe's €35B second-hand clothing market benefits from EU Circular Economy policies. Competitors like bootstrapped Circular Resale focus on POS, while Minimist leads in AI photo analysis for thrift stores.
FAANG PM Meets Circular Expertise
Co-founder CEO Stephan Hofmann brings product management from Google Maps micromobility and Spotify wearables. COO Anna Greil founded award-winning uptraded, a clothing swap app. CTO Robert-Andrei D. led AI at Panprices, and Head of Marketing Jordan Fitzgerald scaled charity retail at Vinnies.
Hiring Engineers Amid Records
Post-raise, Minimist hires a Founding Product Engineer in Bucharest and rolls out AI size detection to cut returns further. Vinokilo listed 660 items in one day, setting records. The six-person team across six countries eyes scaling via charity partnerships like Red Cross.