According to EU-Startups, the company founded in 2012 will use the fresh funding in order to increase its impact, as it wants to reach the same level of sharing as in Amsterdam, where one in four households already uses the platform.

Also, Peerby is looking forward to implement the sharing concept in other countries as well, Belgium already making use of the platform, and other countries will follow suit in late 2022 and 2023.

The startup's revenue grew by 200% in 2020 and by 222% in 2021, and the growth can be attributed existing members inviting their neighbors to join the sharing platform.

The investors that stand by the project believe that by borrowing and sharing goods, communities can become more sustainable and Milieu Centraal, a Dutch environmental research institute, says that consumers can reduce their climate impact by more than 25% by sharing and borrowing.

Daan Weddepohl, founder and CEO of Peerby stated that "the support from members, crowdfunders and professional investors confirms that everyone is eager for an alternative to today’s hyperconsumption. We’ve always had social and ecological impact and the challenge was to become financially sustainable. Now that we have achieved profitability, the time is ripe to make neighborhood sharing mainstream."