Videdressing.com, a Paris-based social marketplace dedicated to fashion, announced today that it has raised $6 million in Series A funding from DN Capital, Earlybird, Piton Capital and Generis Capital.
This round of financing will allow Videdressing to further accelerate its growth and increase its market share in France, reinforce its organisation and develop the business internationally, beginning with the launch of an English version.
Launched in December 2009, Videdressing.com aims to combine the best aspects of an online marketplace with a highly merchandised, fashion savvy retail environment to offer customers a shopping experience with unparalleled range, curation and value for money.
Over the last three years, the fashion peer-to-peer marketplace has experienced strong organic growth in its home market of France with transaction volumes increasing five-fold during 2012. The catalogue counts nearly 400,000 items from over 1,700 of the most luxurious and trendiest brands and is growing at a rate of over 2,500 products per day. Women’s fashion represents the vast majority of the business but the site also offers men’s and children’s fashion. New or never worn products represent nearly 25% of the product offer.
Meryl Job, co-founder and CEO of Videdressing, stated: “The new funding will enable us to continue to invest in strengthening and expanding our business so we can help more customers in France and beyond to find more covetable products at highly attractive prices. This latest round of financing marks the opening of a new chapter of our adventure for which we are very excited”.
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