Excess stock usually runs out with items returned from e-commerce, logistics, and retail corporations. manila based humble stillness Gol is a financial systems startup that wants to maintain it out of landfills in the Philippines. Since its launch, it has processed more than 150,000 items such as clothing, client electronics and family home appliances that can be sold through Thrift, its Shoppe storefront, or handed out to B2B recyclers and resellers. could.
The firm just introduced, it has raised $750,000 in an oversubscribed seed round led by SeedStars International Ventures, with Ula co-founder Alan Wong, Sagar Achanta (who has held product management roles at Amazon) and Iced Ventures. Angel is the participation of the buyers. Booking.com and Disney+, and buyers Paco Sandejas and Richard Eldridge.
Humble will use the funds to grow its community of associates and mentors and grow its group by hiring division chiefs. The company also plans to fully internalize its technological developments and start work on long-term initiatives such as a carbon footprint tracker.
Humble Sustainability founders Nina Opida and Joseph Worker. image credit: humble stillness
Humble was founded in 2021 by CEO Joseph Worker and COO Nina Opida. Worker told Thelaik that the two met five years ago after holding management positions at different startups, and wanted to see how technological innovation could be used in the world. Humble’s first model was a round buying and selling response to children’s clothing, before it expanded into other items.
“None of us are environmental scientists or sustainability experts,” noted Worker. “We simply had a love for the earth and had the opportunity to apply our little experience building businesses to it.”
Humble has worked with 20 companies till date. The strategy for acquiring commodities begins with acquiring stock for valuation, so the humble can see what condition they are in and work out their value (as the corporate grows, it incorporates components of the standard management curriculum). going to automate). It then decides whether to checklist items on Thrift, or promote them in bulk in its B2B community. Once their plans permit, they sign an agreement with buyers, who can monitor the condition of their items and receive cash from their gross sales. Humble is planning to launch a stay dashboard on its B2B platform so that buyers can view earnings, stocks and environmental impact in real time.
Worker says that without Humble, the undesirable stock will either go to a standard liquidator (for high-value items) or find itself in a landfill. There are other options, such as internal employee sales, but these only account for a small proportion.
“With Humble, it’s perfect consolidated,” he noted. “We will take everything, making sure nothing ends up in landfills. Good quality items are at Thrift and the high value is extracted, everything else is properly brought back in circular through our B2B network and we will extract the value which can be passed back to the client. ,
All the buyers of Humble’s seed round are actively involved in the venture. Seedstars, for example, launched Humble to its global community of people, with the company closing offers, Worker said. Humble is also cooperating in the three month progress monitoring program of Seedstars. Wong and Achanta have worked together at various companies including Amazon, Booking.com and Ula and are guiding Humble by providing suggestions on its technology development and long-term roadmap.
In a press release, Patricia Sosrodjojo, Partner at SeedStars, mentioned, “We are delighted to support Humble in its journey to reduce waste and promote circular living. Humble is a great fit for Seedstar’s thesis of supporting early-stage companies that can create a meaningful impact with an attractive business model. ,
