TipTop, the startup that offers instant cash for electronics, is launching TipTop Shop, a platform for users to purchase and trade in devices. TipTop Shop builds on the success of TipTop Cash, which was introduced late last year. It allows individuals to receive immediate payouts for electronic devices such as smartphones, iPads, cameras, and game systems.
Many individuals sell their old devices to fund new purchases, sometimes opting for models that are not the latest or most expensive. Traditionally, consumers rely on selling platforms or trade-in programs that often provide gift cards for future purchases.
TipTop aims to simplify the process by offering a one-stop solution. Users can buy new, open-box, and refurbished devices through cash transactions or trade-ins. Founder Bastian Lehmann explained to TechCrunch, “You have this unified trade-in cart, which allows you to trade in anything that you have. It doesn’t have to be from the same brand or related product. We instantly assess the value of your item, enabling you to make discounted purchases based on your trade-in value.”
Customers can exchange an old Samsung Galaxy for a discount on an iPad, an Apple HomePod mini for a Nintendo Switch, or an iPhone for a Nothing phone. Additionally, customers have the option to make purchases without a trade-in.
TipTop processes payments through Stripe and manages deliveries. Unlike platforms like eBay or Facebook Marketplace, customers purchase directly from TipTop as the devices are owned by the company.
Lehmann hinted at a new product launch next month, offering merchants instant trade-in program capabilities.
So far, TipTop has secured $23 million in Series A funding from investors such as Andreessen Horowitz, OpenAI CEO Sam Altman, AngelList co-founder Naval Ravikant, and Gokul Rajaram, a board member of Pinterest, Coinbase, and DoorDash.
