Start-up Stootie raises €7.4 million in France

13 Sep 2016

French start-up Stootie.com, a site for local services and trading of used goods, raised €7.4 million ($8.3 million U.S.) from Cap Décisif Management, BPI France, Maif Avenir, and several private investors, bringing the total raised to €8.6 milion.

Last year, the site for peer-to-peer services – such as help with moving house, haircuts, babysitting, computer and other repairs – raised €1.2 million from Cap Décisif Management (we reported here).

Stootie focuses on geographical proximity. This is how Cap Décisif Management describes the site: “Stootie is the leading collaborative services app. (If you) need help for a move, (want to) find a babysitter in the neighborhood, or (want your) computer repaired – it’s easy to use. Stootie connects you to users near you, and enables them to render services – free, or against payment. The app also enables you to sell, barter, donate used items, or local products”.

It was launched in 2012, and has since created an app. The site acts as a trusted middleman, and collects 18 percent of the value of each transaction as commission.

Thirty percent of the activity on the site happens on the pages for buying and selling stuff. It has 600,000 clients across France – 2.4 times more than a year ago. According to the site, it currently facilitates transactions with a total value of €500,000. (It earns 18 percent of that value.)

According to the founder Jean-Jacques Arnal, Stootie is currently developing its own payment system, which will become its lever for generating income.

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Anastasia Gnezditskaia

Anastasia Gnezditskaia has joined AIM Group in 2014 as a writer/analyst covering France, Belgium, the Netherlands and Eastern Europe. A Russian living in Antwerp, Belgium, she has a background working for trade publications covering markets and their regulation. She is educated at Moscow State Lomonosov University (MA in psychology) and Central European University (PhD in public policy). After obtaining her doctoral degree, she taught international political economy at George Washington University in Washington DC where she lived for 10 years. Following this she managed international development projects in Africa at the World Bank, and worked as a journalist covering Congress, federal government agencies and commodity markets, particularly shale gas development in North America.