SYRACUSE, N.Y. — TCGplayer, a growing online marketplace for collectibles, has landed its first outside investment, $10 million from a New York City–based equity fund.
The money will allow the Syracuse–based company to develop new technologies to serve the collectibles industry, according to a news release.
In addition to operating as a marketplace for game cards and other collectibles, TCGplayer provides e-commerce technology and services to hobby retailers.
“Throughout our e-commerce software tools, we enable the 10,000 independently owned hobby stores across the United States to compete against large corporate retailers,” said Chedy Hampson, the company’s founder and CEO. “To date, we have driven over $250 million in sales to retail stores through our marketplace.”
The $10 million investment is coming from Radian Capital, an equity fund with stakes in high-tech companies working in the business-to-business field.
“TCGplayer has a strong foothold in the $5 billion collectible card market,” Weston Gaddy, Radian co-founder, said in the release “We believe our investment will help them leverage this position to migrate into the much larger hobby store space for comic books, sports cards and board games.”
TCGplayer has been growing rapidly and now has more than 200 employees at its offices in downtown Syracuse. It also has a new office in Atlanta, Georgia.
The company is currently located on Clinton Street and in space at the Galleries in downtown Syracuse. The firm recently received approval from the Syracuse Industrial Development Agency for sales-tax breaks on the furnishings for the Galleries space.
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