By Rotation raises €2.7m in seed funding led by Redrice Ventures to support US expansion
The fashion rental platform secured backing from Redrice Ventures and Closed Loop Partners to fund its international growth.
By Rotation operates a peer to peer fashion rental application that allows users to lend and borrow wardrobe items without holding inventory.
By Rotation has secured €2.7m in a seed funding round led by Redrice Ventures. The round drew participation from several other backers, including Closed Loop Partners, True Global, Magnus Rausing, Bill Holroyd, June Angelides, Dinika Mahtani, and Riccardo Pozzoli.
The company will direct the capital towards team expansion, product development, community growth, and an upcoming launch in the United States. The platform currently operates a community of lenders and renters across the UK.
The investment follows a period of notable growth for the peer to peer fashion platform, which functions without holding internal inventory.
Investor perspective
"By Rotation offers a beautiful solution for today’s fashion consumers that merges the best of social media, peer to peer commerce for a modernized rental & resale experience. The result is an elegant platform that reinspires shoppers to build communities around the products they love while keeping them in use longer. This is a great model for the future of commerce."
Caroline Brown
Managing Director, Closed Loop Partners
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
Investors
Tom March
Redrice
Caroline Brown
Closed Loop Partners
True Global
Magnus Rausing
Bill Holroyd
June Angelides
June Angelides
Cherry
Riccardo Pozzoli
Categories
About the company
By Rotation
Fashion rental platform enabling peer to peer wardrobe sharing.