Funding Round attributes
Fleek, a global second-hand fashion marketplace, has announced raising $20.4 million through a $14.8 million Series A round and a $5.6 million seed round. The Series A was led by HV Capital, with additional investments from Andreessen Horowitz (a16z) and Y Combinator. The rounds also included contributions from industry experts like Shopify’s President Harley Finkelstein, former Depop CEO Maria Raga, and Postmates’ former CTO Sean Plaice. This significant funding aims to drive Fleek’s growth by expanding its supplier network and enhancing the platform’s interactive social features, including chat and live video shopping.
Founded to address the growing demand for sustainable and circular fashion, Fleek’s platform connects sellers and buyers within the second-hand clothing industry. Through AI and predictive analytics, Fleek forecasts popular styles and trends within the second-hand market, enabling suppliers to stay informed on customer demand. Fleek currently offers categories such as vintage streetwear, Y2K, and upcycled clothing, allowing resellers and retailers to source items in bulk, aligning with consumer interest in sustainable fashion alternatives.
CEO and co-founder Abhi Arora highlighted Fleek’s mission to make second-hand clothing a primary shopping choice. He commented, “Our mission is clear: to make second-hand the first choice and elevate businesses on both sides of the marketplace. While we’ve made progress, the world we envision—where consumption patterns shift, and a new class of entrepreneurs emerges—is still being built. With this funding, we aim to get more businesses to start selling second-hand clothing and drive the shift toward sustainable shopping.”
With operations in the U.K., Pakistan, and India, Fleek has successfully attracted over 10,000 resellers and retailers from 70 countries, creating a vibrant community of sellers. Co-founder Sanket Agarwal underscored the importance of building a product that brings the traditionally offline industry of second-hand fashion into the digital space. He explained, “The way to bring this very offline industry online is to build a product that has a dynamic social experience, fostering connections through chat and live shopping, and enabling transactions via seamless global payments and logistics. By enabling this new wave of circular economy entrepreneurs around the world to interact directly with each other, we hope to enhance the global trade of used clothing more efficiently.”
HV Capital’s General Partner Felix Klühr shared his enthusiasm for Fleek’s potential, describing the company as a transformative force in the second-hand fashion industry. He stated, “We are proud to invest in Fleek, a company that is redefining the second-hand fashion landscape. Fleek’s innovative approach to scaling the second-hand market globally reflects tremendous potential for growth. The marketplace not only addresses current industry needs but also paves the way for a more sustainable future in fashion. We’re excited to be part of this journey.”
Connie Chan, General Partner at Andreessen Horowitz, echoed these sentiments, recognizing Fleek’s ability to optimize the second-hand supply chain and support inventory replenishment for resellers. Chan said, “We’re thrilled to partner with Fleek—their vision of optimizing the second-hand supply chain and simplifying inventory replenishment for resellers and retailers is impressive. We believe Fleek will bring untapped supply online, fostering trust in the ecosystem and significantly growing the wholesale market. Especially with the new Reworks business line, Fleek is well-positioned to serve a brand new generation of online and offline sellers.”
With this new capital, Fleek is set to further develop its platform’s capabilities, facilitating sustainable practices within the fashion industry. The platform’s focus on AI-powered analytics, live interaction, and seamless logistics underscores its commitment to becoming a leading marketplace for second-hand fashion worldwide. By connecting a global network of suppliers, resellers, and retailers, Fleek aims to expand the reach and accessibility of sustainable fashion options for consumers while driving economic opportunities for resellers.
