Tradesy, the US-based online luxury fashion marketplace backed by conglomerate Virgin Group, has secured $67m in a series D round led by family office Foris Ventures, Axios has reported.
Founded in 2009, Tradesy has created an online platform enabling users to buy and sell their luxury fashion items, with a view to eliminating much of the waste endemic to the fashion industry.
The funding will be used to expand the company’s apparel and accessory offerings. The second-hand fashion sector is set to grow at an increasing clip as sustainability and environmental, social and governance considerations become a bigger factor in how people shop.
Tradesy had previously raised $30m in series C funding from Wildcat Capital Management, Kleiner Perkins and Rincon Venture Partners in 2016.
Kleiner Perkins led a $43m series B round for Tradesy that closed in 2015 and included Virgin and Rincon Venture Partners. The $13m first tranche of the round was provided the previous year by the same trio of investors as well as Northgate Capital.
The company’s 2012 series A round had brought in $1.5m from Rincon Venture Partners, 500 Startups, Bee Partners, Double M Capital, Launchpad LA and Daher Capital.
