Reflaunt secured $2.7 million in pre-Series A funding led by MadaLuxe Group
Reflaunt, a London, UK and Singapore-based software developer for fashion retailers and ecommerce operators, announced that it secured $2.7m in pre-Series A funding.
The money was raised by investors led by MadaLuxe Group, with participation from The Mills Fabrica, Pierre Denis, Nicolaj Reffstrup, Textile Innovation Fund, Piquadro, Bluebell Group and sustainable fashion accelerator Fashion For Good.
The company intends to use the funds to add talent to its technology and business development teams.
Reflaunt, founded in 2017 by CEO Stephanie Crespin, Philippe Benedetti and Felix Winckler, developed what they call a Resale-as-a-Service (RaaS) solution helping fashion brands’ and retailers’ customers to easily resell or recycle their past purchases directly on the brands’ individual e-commerce platforms. The items are then offered for sale on more than 20 marketplaces across North America, Europe, the Middle East, Southeast Asia and Australia, reaching over 30 million secondhand buyers worldwide.