Cudoni secures £4.7m in Series A funding led by dmg ventures to fuel international growth
The luxury resale platform raised £4.7m from dmg ventures, Hunt Investment Group, and Concurrence Capital to drive international expansion and recruitment.
Cudoni operates a premium online resale service that collects, values, and sells pre-owned luxury fashion and accessories on behalf of clients.
Cudoni has raised £4.7m in a Series A funding round led by dmg ventures. The capital will support the company as it pursues international expansion and scales up its recruitment efforts.
Additional participation in the round came from Andrew Jennings, Hunt Investment Group, and Concurrence Capital. They join a group of previous backers including the Daily Mail and General Trust, Nick Wheeler, Lord Mervyn Davies, Matt Cooper, and Giles Brook.
The business provides a fully managed resale platform for pre-owned luxury items, offering a convenient alternative for consumers looking to monetise designer goods.
From the founder
"It is brilliant to receive further backing from such esteemed business leaders, most notably during what has been an incredibly tough year for certain sectors. This investment comes at a crucial stage of our journey. The valued support and investment from new and existing investors will allow us to continue our rapid expansion at a time when we are moving towards a more international model. It’s great to see business leaders investing in the luxury resale market, as we move to a more sustainable and conscious way of living, as well as supporting circular fashion which people are buying into increasingly."
James Harford-Tyrer
Founder at Cudoni
Use of funds
- 01Expand into international markets
- 02Grow the team