Reflaunt secures £2m in pre-Series A funding from MadaLuxe Group and industry leaders to expand its resale platform.
The funding round was led by MadaLuxe Group and will be used to support team expansion and new technology launches.
Reflaunt provides resale technology that enables fashion brands and retailers to integrate circularity into their ecommerce platforms. The company connects brands with global marketplaces to facilitate the resale and recycling of pre-owned garments.
Reflaunt has secured £2m in pre-Series A funding led by MadaLuxe Group to scale its resale infrastructure. The round drew participation from a range of high-profile fashion executives and specialist funds, including Pierre Denis, Nicolaj Reffstrup, Textile Innovation Fund, Piquadro, Bluebell Group, Fashion For Good, and The Mills Fabrica.
The fresh capital will be deployed to expand the company engineering and business development teams. This growth in talent is intended to support upcoming brand launches and facilitate new resale models across international markets.
The London-based startup provides technology that allows fashion brands to offer white-label resale services directly on their own ecommerce sites, channelling used goods into a network of over 20 secondary marketplaces.
Investor perspective
"By now, the entire fashion industry is well aware that sustainability is both a societal and business imperative. We’re confident that our investment in Reflaunt will deliver a significant positive impact not only financially, but also culturally and socially."
Sandy Sholl
Co-founder and Executive Chair, MadaLuxe Group
Use of funds
- 01Grow the team
- 02Continue product development
Investors
Sandy Sholl
MadaLuxe Group
Textile Innovation Fund
Piquadro
Bluebell Group
Fashion For Good
The Mills Fabrica
Categories
About the company
Reflaunt
Resale-as-a-service technology provider for the global fashion industry.