Forerunner leads Courtyard's $30M Series A as sales jump 10,000% in 18 months

Courtyard, a New York City-based collectibles marketplace, has secured a $30 million Series A funding round led by Forerunner Ventures, with participation from existing investors NEA and Y Combinator. The company, founded in 2021 by Nicolas le Jeune and Paulin Andurand, operates a digital platform that sells "mystery packs" of trading cards and comic books via a virtual vending machine. Customers pay a fixed price ($25–$100 for cards, $200 for comics) to receive a randomly selected item from a curated inventory, with transparent probability metrics provided before purchase. The startup also offers a guaranteed 90% repurchase rate for unsatisfied buyers and a fee-free marketplace for reselling items, addressing a key pain point in the traditionally illiquid collectibles market [1].

The funding comes amid significant growth for Courtyard, which reported monthly sales increasing from $50,000 in January 2024 to $50 million by July 2025—a 100-fold increase in just 18 months. The company’s business model relies on reselling returned items in new mystery packs, with each card typically cycling through eight transactions per month. Courtyard has positioned itself as the largest global buyer of trading cards, leveraging a network of collectibles dealers to source inventory. The startup plans to release a mobile app soon to further accelerate growth [1].

Forerunner Ventures highlighted Courtyard’s emphasis on liquidity as a key differentiator. "That might sound like a small thing, but it’s a big unlock: it lowers the barrier to entry [for consumers] in a category that’s historically been tough to navigate," wrote Forerunner partner Nicole Johnson [1]. This focus on accessibility aligns with broader trends in the collectibles market, where nostalgia-driven demand for Pokémon and sports cards has surged, particularly during the pandemic. Digital gamification and FOMO (fear of missing out) have transformed collecting into an impulse-driven activity, creating a fertile ground for platforms like Courtyard [1].

Despite its rapid expansion, Courtyard faces competition from emerging clones and operates in a high-margin, high-churn environment. CEO Nicolas le Jeune acknowledged the need to "go into the red" to maintain market leadership through aggressive hiring, paid marketing, and product diversification. However, the company remains committed to authenticity in user experience. When asked about the risk of first-time buyers feeling disappointed, le Jeune stated, "We could fake it and make you feel at the beginning like you get a good card every single time, but we would not be okay with that." The startup aims to enhance value per transaction as it scales, with le Jeune noting there is "so much room to make it a much better experience" [1].

Courtyard’s integration of NFTs—digital tokens representing physical collectibles—adds a layer of innovation to its model. While customers need not engage with blockchain technology directly, the underlying infrastructure ensures secure ownership and storage. This hybrid approach bridges traditional and digital collectibles markets, potentially appealing to both seasoned collectors and younger audiences drawn to the novelty of NFTs [1].

The funding round underscores investor confidence in the collectibles sector’s potential, driven by a blend of nostalgia, digital engagement, and financial liquidity. As Courtyard expands its product categories and geographic reach, its ability to balance rapid growth with user satisfaction will be critical to sustaining its market position.

Source: [1] [title: Exclusive: Forerunner leads $30 million round in collectibles marketplace Courtyard] [url: https://fortune.com/2025/07/24/exclusive-forerunner-leads-30-million-round-in-collectibles-marketplace-courtyard/]