Amsterdam's Otrium snags €24 million to expand fashion marketplace that sells excess inventory
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Amsterdam's Otrium snags €24 million to expand fashion marketplace that sells excess inventory. Amsterdam-based Otrium, an online fashion marketplace that aims to move unsold clothing at the end of the season, has raised €24 million in Series B funding to fuel further international expansion. The round was led by Eight Roads Ventures.
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Amsterdam-based fashion e-commerce startup Otrium has raised $120M (approx €102.27M) in a Series C round of funding. In addition, the company has also announced its launch in the US and aims at reducing unsold fashion in the future. Investors and the use of new funds
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Amsterdam-based Otrium has raised $120 million in a fresh round of funding co-led by BOND and Index Ventures, and saw follow-on investment from Eight Roads Ventures.. The series C round is expected to propel Otrium's entry to the US market, ramp up additional unsold fashion capabilities, and recruit new staff.
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Amsterdam, March 31, 2021 - Otrium, the end-to-end marketplace for end-of-season fashion, has announced $120 million Series C funding, its US launch and the introduction of new capabilities aimed at reducing unsold fashion in the future.Otrium has also revealed that revenues have tripled in 2020, Otrium's registered members surpassed 3 million, and it now has over 300 fashion stores on its app.
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Otrium is the world's most innovative end-to-end platform for outlet fashion, driven by a mission to eliminate fashion waste and maximize recovery value for unsold items. Founded in 2017 in Amsterdam by Milan Daniels and Max Klijnstra, Otrium seamlessly connects a global community of 5 million members to excess stock from leading brands.
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Today Otrium, the end-to-end marketplace for end-of-season fashion, has announced an approx. € 102.3 million Series C funding round, its US launch and the introduction of new capabilities aimed at reducing unsold fashion in the future. Otrium has also revealed that revenues have tripled in 2020, its registered members surpassed 3 million, and it now has over 300 fashion stores on its app.
Otrium Raises 120m and Partners with Hundreds of Fashion Brands Post Pedia
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