As sustainable shopping continues to trend, second-hand market places are gaining popularity amongst consumers. Today, the majority of resale platforms such as Depop, ThredUP, Tradsey, Poshmark and The RealReal are built on a peer-to-peer model, wherein retailers and brands are left out of the sales equation. That’s a gap resale platform Recurate is looking to fill.
The resale platform has raised $3.25 million in an investment round to fuel its growth and expansion.
Former Gap Inc. executive Wilson Griffin and former Retail Industry Leaders Associations executive Adam Siegel founded the company in February of 2020 to help brands integrate resale solutions through their websites.
Through Recurate, brands can take control of their products’ resale by operating their own peer-to-peer marketplaces and offering users store credit or cash in exchange for sales.
The resale platform has recently signed partnerships with Mara Hoffman, Frye, La Ligne and Re/Done.
Gradient Ventures led the seed round.