- Briefing Your roundup of Asian tech and startup news that matter
Kul Bhushan · · 1 min readSoftBank co-leads $210m round of ex-Lazada CEO’s luxury marketplace
“Vestiaire Collective, a marketplace for second-hand luxury items, has raised another US$210 million just six months after its previous round, moving to aggressively capture a bigger slice of a booming online resale market,” The Business Times reported.
Details:
- The latest funding round was led by SoftBank Vision Fund 2 and Generation Investment Management, which is led by former US vice president Al Gore. Existing investors Bpifrance, Conde Nast, Eurazeo Group, and Korelya Capital also participated in the round.
- The startup, helmed by Lazada founder Max Bittner, plans to use the fresh capital to expand in new markets including Asia, as well as develop its technology. (Read: The growing Lazada mafia)
Dive deeper:
- According to the report, Vestiaire Collective recorded a more than 150% jump in the number of orders from Asia Pacific in the last 12 months. It added that Singapore contributed about 15% to its business in the region.
- In March, the 12-year-old startup raised US$216 million in a round led by Tiger Global and Gucci owner Kering.
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
