Observed Signal · Nov 13, 2024 · Funding · Source: Tech.eu · Impact: 2/5 · Sentiment: Neutral
Fleek raises $20.4M for second-hand fashion marketplace
Fleek, a B2B marketplace for second-hand fashion, announced a $20.4M funding round comprising a $14.8M Series A led by HV Capital and a $5.6M seed round. Participation came from Andreessen Horowitz and Y Combinator. The funding will be used to onboard more suppliers and develop interactive social features like chat and live video shopping. The platform uses AI and predictive analytics to forecast trends in the second-hand industry. Fleek currently serves 10,000 resellers and retailers across 70 countries, with offices in the UK, Pakistan, and India. The company aims to make second-hand clothing more accessible and drive sustainable consumption.
Funding for an e-commerce marketplace using AI, but limited direct impact on AdTech industry.
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Key Takeaways & Evidence Grounding
- Fleek raised a total of $20.4M, including a $14.8M Series A and a $5.6M seed round.
- HV Capital led the Series A round, with participation from Andreessen Horowitz and Y Combinator.
- Fleek has 10,000 resellers and retailers from 70 countries.
- The company plans to develop chat and live video shopping features.
- Fleek uses AI and predictive analytics for trend forecasting in second-hand fashion.
Connected Companies & Entities
5 Entities mapped“The Series A funding round was led by HV Capital...”
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“with participation from Andreesen Horowitz (a16z) and Y Combinator...”
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“Depop’s ex-CEO (Maria Raga)...”
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