TipTop, the startup that gives prompt money for electronics, is launching TipTop Store, a method for customers to buy and commerce in units. TipTop Store builds on the success of TipTop Money, which was launched late final yr. It lets individuals get prompt payouts for digital units like smartphones, iPads, cameras, recreation techniques and extra.

Many individuals promote previous units with a purpose to buy new ones, and typically they don’t at all times need the most recent and most costly mannequin. Historically, shoppers flip to promoting platforms or use trade-in packages that usually give reward playing cards that may be put towards a brand new buy.

TipTop needs to take away the trouble by combining either side of the equation. Folks can purchase new, open-box and refurbished units by means of money and trade-ins. “You have got this unified trade-in cart, which lets you commerce in something that you’ve,” the startup’s founder, Bastian Lehmann, advised TechCrunch. Lehmann previously based Postmates.

“It doesn’t need to be from the identical model, it doesn’t even need to be a associated product,” he stated. “After which we do what we’ve got executed over the past yr, we immediately acknowledge the worth of the merchandise that you simply not want, and you may then buy issues with a reduction as a result of we’re taking your trade-in worth under consideration.”

Prospects can commerce in an previous Samsung Galaxy for a reduction on an iPad, an Apple HomePod mini for a Nintendo Swap or an iPhone for a Nothing cellphone. Prospects also can make a purchase order and not using a trade-in.

TipTop processes the funds by means of Stripe and handles the deliveries. Not like on platforms like eBay and Fb Market, shoppers aren’t shopping for merchandise on TipTop from different shoppers, because the units are owned by the startup itself.

Lehmann teased that subsequent month, the startup can be launching a brand new product that can give retailers the power to run prompt buying and selling packages.

To this point, TipTop has raised $23 million in Sequence A funding from traders, together with Andreessen Horowitz (Marc Andreessen is on the board), plus OpenAI CEO Sam Altman, AngelList co-founder Naval Ravikant and Pinterest, Coinbase and DoorDash board member Gokul Rajaram.