French fashion platform Vestiaire Collective has raised a €33m Series D round led by France’s Eurazeo and joined by previous backers Balderton Capital, along with Idinvest Partners, Condé Nast and Ventech.
The company offers its 4 million members a high-end platform to buy and sell second-hand designer clothes, which are individually verified for authenticity by an in-house team before making it from seller to buyer.
Vestiaire Collective lets sellers upload items for free and offers free delivery, but takes a cut of any item sold.
It is already serving users across 40 countries, has offices in Paris, London, New York and Berlin, but says it will use the funds to build its brand across the globe, with a focus on the US and Europe.
Next stops for building their team are Italy and Scandinavia.
This investment represents one of France’s largest funding rounds this year, although dwarfed by the $115m raised by IoT network provider Sigfox back in February.
Total funding to date for Vestiaire Collective has now reached €60m since it opened its doors in France in 2009.
“Vestiaire Collective is an outstanding entrepreneurial story,” said Yann-Hervé du Rusquec, GM of Eurazeo Croissance. “We are delighted to be involved and we will apply all our efforts, network and expertise to support the company in its international expansion.”
“Vestiaire Collective is at the nexus of new developments in shopping, the digital space, community platforms, luxury and branding, and the company stands for exactly the type of investment that we seek for Eurazeo Croissance,” added Virginie Morgon, general director of Eurazeo.