Online platform for wholesale secondhand fashion Fleek has raised 20.4 million dollars in funding. This consists of a 14.8 million dollar Series A financing and a 5.6 million dollar seed round.
The investment was backed by HV Capital, Andreessen Horowitz and Y Combinator, as well as investors such as Shopify chairman Harley Finkelstein and former Depop CEO Maria Raga, Fleek announced in a post on LinkedIn.
The company utilises artificial intelligence (AI) to perform predictive analyses on the second-hand market, with the goal of helping suppliers to respond to trends more efficiently. Through Fleek’s online platform, entrepreneurs can buy various second-hand fashion in bulk, from vintage streetwear to upcycled fashion.
The platform operates globally and has, according to the company, served 10,000 resellers and retailers from 70 countries to date, and has traded 2.5 million garments through 1,000 wholesale suppliers. The new funding will enable Fleek to further expand its supplier offering with the platform’s interactive features, such as chat and live shopping.
Founded in 2021 by tech veterans Abhi Arora and Sanket Agarwal, Fleek’s mission is to facilitate the trade of pre-owned fashion.
This article originally appeared on FashionUnited.NL. It was translated to English using an AI tool called Genesis and edited by Rachel Douglass..
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