Courtyard, a New York City-based collectibles marketplace, secured $30 million in Series A funding. Forerunner Ventures led this investment round. Existing investors NEA and Y Combinator also participated.
Founded in 2021 by Nicolas le Jeune and Paulin Andurand, Courtyard operates a digital vending machine for mystery packs. Customers purchase unknown Pokémon or sports cards, or comic books. An algorithm assigns items from the company's secure vault. The platform offers immediate buyback options at 90% fair market value. Sellers also list items on Courtyard's fee-free marketplace.
Driving Liquidity in Collectibles
Courtyard emphasizes liquidity, lowering entry barriers for collectors. Many customers purchase a digital token representing a physical item. The company's mystery packs gained significant traction. Monthly merchandise sales surged from $50,000 in January 2024 to $50 million currently.
The platform generates revenue by repurchasing cards at 90% value and reselling them. A single card sells eight times monthly on average. Courtyard sources merchandise through a large network of dealers. The company plans to expand its lead through hiring, marketing, and product category expansion. A mobile app launch is imminent.
This Series A funding fuels Courtyard's rapid market capture. The company aims to outpace emerging competitors like eBay and StockX in the collectibles market. This investment also highlights the continued growth in the venture capital space for niche marketplaces.