Fleek, the progressive wholesale market for second-hand vogue, has raised $20.4 million to convey the fragmented, offline second-hand clothes trade on-line.
The Collection A funding spherical was led by HV Capital, with participation from Andreesen Horowitz (a16z) and Y Combinator. Founders and operators from outstanding know-how firms like Shopify’s President (Harley Finkelstein), Depop’s ex-CEO (Maria Raga), and Postmates’ CTO (Sean Plaice) have additionally invested. The earlier seed spherical was led by a16z.
Based in 2021 by Abhi Arora and Sanket Agarwal, Fleek addresses one of many second-hand vogue trade’s largest challenges: sourcing stock from a extremely fragmented, offline market. The second-hand vogue trade, valued at $200 billion, is predicted to develop thrice sooner than the general attire market, reaching $350 billion by 2028.
Fleek’s platform connects over 1,000 suppliers with greater than 10,000 resellers throughout 70 nations. By providing a seamless on-line market, Fleek permits entry to fascinating second-hand stock with aggressive pricing, purchaser safety, and international logistics assist. The platform’s interactive social options, resembling chat and dwell video procuring, foster direct connections between consumers and suppliers, making a dynamic procuring expertise.
Abhi Arora, co-founder and CEO of Fleek, mentioned, “Our mission is clear: to make second-hand the first choice. With this funding, we aim to empower more businesses to embrace sustainable fashion.”
Fleek additionally leverages AI and predictive analytics to assist suppliers perceive market developments, enabling consumers to supply trending classes like classic streetwear and upcycled clothes in bulk. This data-driven strategy positions Fleek to play a key function in selling sustainable vogue, providing a viable different to quick vogue’s environmental affect.
Felix Klühr, Common Associate at HV Capital, commented, “Fleek is redefining the second-hand fashion landscape and setting the stage for a more sustainable future in fashion. We’re excited to support their growth.”
With workplaces within the UK, Pakistan, and India, Fleek is poised to additional remodel the wholesale vogue market by offering a streamlined, accessible answer for companies worldwide seeking to enter or broaden within the second-hand attire market.
