Patatam announced raising €7M from Quadia, Creas and Colam Impact.
Patatam, Hastingues (Bayonne), France-based ecommerce operation for second hand clothing, announced that it has raised funds of €7 million ($8.5M).
The money was raised from investors including the Swiss fund Quadia, the Spanish Creas and the French Colam Impact.
Proceeds will be used to help the company with opening of two new warehouses.
Patatam, founded in 2013 by Eric Gagnaire, Marieve Bidart and Mathieu Bidart, built an ecommerce business selling second-hand items for women and children. The company works with major retail and ready-to-wear brands - customers can drop off clothes they no longer wear, which are then sorted and cleaned by Patatam before being resold in stores or online.
Partners include Auchan, System U, Carrefour, Kiabi, and Beaumanoir, owner of La Halle, Cache-Cache, Bonobo, Bréal and Vibs. The company is active in ten countries with nearly 70 employees,
Patatam previously raised almost $5 million from investors including the Duval group, West Web Valley, Swen Capital Partners, Aquiti Gestion, PG Développement, Kernel Investissements, Herrikoa and business angels.