Vestiaire Collective in a fresh €178 million funding round supported by Softbank.

Vestiaire Collective, a Paris, France-based operator of a marketplace used for commerce with desirable second-hand fashion, announced that it completed a €178 million ($209M) funding round.

The money was raised from Softbank and Generation Investment Management, joined by existing shareholders including Bpifrance, Conde Nast, Eurazeo and funds managed by Fidelity International and Korelya Capital. The deal values the company at $1.7 billion and Marcelo Claure, CEO of SoftBank Group, joins the board of directors.

Vestiaire Collective, founded in 2009 and led by CEO Maximilian Bittner and Christian Jorge, developed a platform for desirable pre-loved fashion, promoting the circular fashion movement as an alternative to overproduction and overconsumption and the wasteful practices of the fashion industry. The company also provides its ‘fashion activist’ community with inspiration, tools and features for an inventory of 3 million items that includes 140,000 new listings every week. Vestiaire Collective has offices in Paris, New York, Hong Kong, Singapore and a tech hub in Berlin.

Vestiaire Collective previousy raised the same exact amount exactly 6 months ago in a deal led by Tiger Global and the French luxury group Kering.