Card collectors often dispute the value of their cards. New Jersey-based CollX offers card enthusiasts his free iOS and Android apps that let you scan trading cards and get value in return.
Launched last January, the app now has over 600,000 users and has scanned over 100 million cards. CEO Ted Mann told TechCrunch in a call that the company has created its own database of over 20 million cards, ranging from Pokémon to sports, and that the ColX app will help determine the card’s value.
The idea came when Mann’s son Charlie started collecting cards during the pandemic but found it difficult to judge their value. A father-son duo, he tried many tools and forums, including eBay, to determine the price of these cards, but found it a tedious task and decided to build an app. rice field.
CollX has raised a $5.5 million seed round led by Brand Foundry Ventures with participation from Next Coast Ventures, FJ Labs, 114 Ventures, Ben Franklin Technology Partners and Morrison Seger Venture Capital Partners. The company has a long list of angel investors including Nat Turner, DJ Skee, David Adelman, Darren Lachtman, Brad Stadler, Ryan Schinman and Robert J. Moore.
Image credit: Col X
The startup aims to build a marketplace that facilitates transactions between card dealers. Now the app helps her two collectors connect and have conversations about potential deals. However, you have to exchange address details and exchange money manually. CollX would like to help facilitate these transactions.
“Eighty-five million American adults own trading cards, but most do not understand their value. We launched to solve it, and it’s become a gateway to help us digitize our collections, transact millions of dollars, learn how to value cards, etc. We’re just getting started.” Mann said in a statement.
The company now makes money from Card Dealer Pro, which it acquired last year, helping card shops quickly scan and upload inventory. According to Mann, there are thousands of shops in the United States with large card collections, and the software helps them digitize and track their cards rather than creating spreadsheets.
Mann said he wants to help these shops list their collections on CollX. Ultimately, therefore, users will be exposed to a larger collection for potential purchases. thinking about.
Over the past few years, collectibles like cards have emerged as an alternative asset class, with multiple startups receiving notable funding. Alt, a collectible trading platform, has so far raised over $300 million from investors such as Spearhead and Seven Seven Six Capital, led by Jeff Fagnan and Naval Ravikant. Last year, entrepreneur Brian Lee and baseball legend Derek Jeter focused on sports cards with his $9 million backing from Lightspeed Venture Partners, Defy.vc, and his BAM Ventures. launched a startup. At the same time, eBay acquired his trading card marketplace, TGCPlayer, for his $295 million.
“CollX has grown to become a force in the hobby space in a very short time. is at the heart of it, helping collectors take their hobby to the next level,” said Wesley Gottesman of Brand Foundry in a statement.
