Singapore fashion tech startup MadThread bags over $500k from AngelCentral

Singapore-based fashion rental startup MadThread has raised over US$513,000 (or S$700,000) in seed funding in a syndicate deal managed by AngelCentral, an angel investment community that supports startups in Southeast Asia.

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AngelCentral partner Phey Teck Moh led the round, which marks AngelCentral’s sixth syndicate. Eleven other investors also participated in the round.

MadThread advocates a smarter way of fashion shopping via a subscription model. It aims to build a one-stop online platform for consumers to experience and experiment with various fashion brands on demand.

“We’re on a mission to curate and partner with the very best of emerging and established fashion labels to give our customers access to an unlimited ‘closet in the cloud’ at a monthly flat fee,” Nicole Hu, founder and CEO of MadThread, said.

Before the seed round, the startup had bootstrapped with a six-figure investment.