Dutch internet company Peerby, which helps users borrow items from their neighbours, has raised €1.7m from a number of foreign investors.

Peerby, which began life under the Rockstart start-up accelerator scheme, plans to use the money to roll out its ideas in the US and hopes to have communities in 50 cities before the end of next year.

Thursday’s financial injection comes from French investment house Xange, American incubator Techstars and publisher Sanoma, which invested in the company two years ago.

Earlier this week, Dutch pay-as-you-read publisher Blendle announced it had raised €3m from German and American investors.

Peerby has around 100,000 members. Founder Daan Weddepohl says around 85% of requests to borrow something are successful, often within 30 minutes.

The company, which offers its online borrowing platform for free, is planning to introduce a mini-insurance scheme for lenders next year.