Collx collects $ 10 million to develop its card collection market
ColxA company offering an online negotiating card market, has raised $ 10 million in series A series. Previous investors in the company.
Other investors such as Next Coast Ventures, FJ Labs and Ben Franklin Technology Partners have also participated in the round.
The startup also added a key partner, the Kansas City Royals baseball player, Bobby Witt Jr. – A cards collector himself – who joined the Round as the brand’s investor, advisor and ambassador. To date, Collx has raised more than $ 15 million in several laps
Collecting cards in the United States are showing promising expansion signs and will increase several billion in the coming years, according to multiple reports. Collx wants to take advantage of it and develop its solutions for scanning and cards to exchange.
The company now has more than 3 million users, compared to 600,000 in 2023. It offers tools to scan your cards and download your collection, consult the collections of other users and commercial cards via its market.
The CEO of the company, Ted Mann, said that the application has 400,000 monthly active users. The market welcomes 30,000 buyers and 20,000 sellers on the platform, with a growth of 20% one month in months.
Since its seed round in 2023, the company has made some modifications to its platform and has created new sources of income. First of all, he refers to users of the classification services for professional sports authentication (PSA), which assesses the state of a collector card and gives it a score.
“These rating societies assault the state of the card, including corners, edges and centering and gives it a score. Graduated cards with good scores often benefit from a great appreciation compared to non -graduated cards. It is therefore a victory for a user, ”said Mann.
The company also associates with live shopping platforms such as Shelf And Fanatics for card trading.
In addition, it redirects users to manufacturers of exchange cards as Topps To buy boxes. Collx takes cuts for all these transactions. The company facilitates transactions between users for a commission of 10%.
“It was difficult to build a market. But we entail the data of knowledge of your collection, and you also suggest other sellers and cards if you have indicated your objectives concerning the collection of certain cards. So when you add a card to your user basket, we show you other cards from this collection that could be interested, “said Mann.
After increasing seeds in 2023, Collx deployed a professional subscription which costs $ 10 per month or $ 100 per year. With this, users obtain a credit of $ 10 for the market, by adding unlimited items (instead of 500), a print control list, an export collection, a bulk pricing and a LinkedIn style that has viewed my card function.
It is 2025, there is therefore also an AI functionality in the application. Users can ask the chatbot, powered by OpenAi models, on the construction of their collections, the pricing of their cards and if a particular card is worth noting.
The company always has a supply of card dealers which allows users or stores with very large collections to scan and digitally download their collections quickly.
Mann said that COLLX PRO and the Card Pro dealer had for most of the company’s income, but have noted that market transactions income increase and go beyond subscription income.
There is competition for the COLX in terms of ALT high -end negotiation card platform,, LUDEX card scan applicationAnd Comc sports card market. Mann believes that his startup is different because it offers a larger range of cards and solutions for collectors.
Mann said that the startup is not yet profitable, but by the end of this year, it will make a decision to choose the path to profitability or want to accelerate user and market growth.
