Luxury Promise secures £3m Series A funding led by Beringea to expand its marketplace and workshop expertise.
Beringea led the Series A round with backing from existing investor Lloyd Amsdon.
Share allotment filed at Companies House
Luxury Promise operates a global e-commerce platform for buying, selling, and swapping authenticated pre-owned luxury goods.
Luxury Promise has raised £3m in Series A funding led by Beringea, with participation from existing investor Lloyd Amsdon. The capital will be deployed to broaden the marketplace offering, develop workshop and repair expertise, and launch a physical storefront.
Founded in 2017 by luxury goods authenticator Sabrina Sadiq, the London and Dubai based platform provides authenticated resale for brands such as Hermes, Chanel, and Louis Vuitton. The funding arrives as consumer demand for sustainable fashion continues to accelerate the second hand luxury market.
From the founder
"We are delighted to have partnered with Beringea and Lloyd Amsdon, both of whom provide a strong endorsement of our achievements to date and additional capital to enable us to maintain our strong momentum"
Sabrina Sadiq
Founder and CEO at Luxury Promise
Use of funds
- 01Continue product development
- 02Scale operations
Investors
About the company
Luxury Promise
Luxury Promise runs a live shopping and e-commerce platform for pre-owned luxury items.