TipTop is now introducing TipTop Shop - a platform where users can purchase and trade devices. TipTop Shop follows in the wake of TipTop Cash, whose introduction came towards the later part of last year. Using TipTop Cash, people could achieve instant cash payouts for electronic products like smartphones, iPads, cameras, game systems, and many others.

Many people sell old devices only to buy new ones sometimes do not want the latest or most expensive of all those new models. Traditionally, customers have relied on selling platforms or trade-in programs often dispense with gift cards that can be applied toward a new purchase.

The frustration is now eliminated with the integration of both sides of the equation. People can purchase new, open box and refurbished devices with cash and trade-ins. "You have this unified trade-in cart, which allows you to trade in anything that you have," the startup's founder, Bastian Lehmann, said to TechCrunch. Lehmann was known to be the former co-founder of Postmates.

It doesn't have to be from the same brand. It doesn't even have to be a related product, said he. And then we do what we have done over the last year: we instantly recognize the value of the item that you no longer need, and you can then purchase things with a discount because we're factoring in your trade-in value.

A customer can trade in an old Samsung Galaxy for a discount on an iPad, an Apple HomePod mini for a Nintendo Switch, or an iPhone for a Nothing phone. Customers can also make a purchase without trade-in.

TipTop then takes care of payment processing through Stripe and delivers. The consumer, unlike on eBay and Facebook Marketplace, is not buying products on TipTop from another consumer since the devices are owned by the startup itself.

Lehmann teased that next month will see the startup launch a new product that shall allow merchants to run instant trading programs.

TipTop has raised $23 million in Series A funding from investors to date, including Andreessen Horowitz's Marc Andreessen, who's on the board, and OpenAI CEO Sam Altman, as well as AngelList co-founder Naval Ravikant and Pinterest, Coinbase and DoorDash board member Gokul Rajaram.