Dora’s Dream, a China-based women’s clothes rental platform, has raised $12m in a series A+ round led by Legend Capital, the corporate venturing unit of conglomerate Legend Holdings, China Money Network reported today.
Apparel producer La Chapelle Fashion also participated in the round, which follows a $7m investment from undisclosed backers in March 2016.
Founded in 2015, Dora’s Dream operates a fashion sharing platform focused on users in tier-two and tier-three cities across China. The company claims to have 60,000 members.
Jin Wenji, partner at Legend Capital, said: “The Chinese consumer sector is entering a ‘sharing era.’ The sharing economy now exists across our daily lives, including transport, hotels and fashion.
“Dora’s Dream provides young ladies with a fashion sharing platform that is innovative and follows the trend of consumer upgrade.”