Resale platform, Tradesy, has raised $67 million in a Series D funding round, bringing total funding up to $145 million.
Tradesy also announced the appointment of former eBay executive, Amy Gershkoff Bolles, as its new chief operating officer and Jeffrey Housenbold, who previously led the Vision Fund at SoftBank, as the chairman of its board.
Founded in 2012 in Los Angeles as a technology-first, peer-to-peer resale marketplace, the company’s chief executive Tracy DiNunzio envisioned Tradesy as a slow-growth but sustainable platform. Since the start of the pandemic, however, Tradesy has witnessed significant growth in both supply and sales, with consumers turning to their closets for another source of income. During this time, many consumers have also become sustainability-conscious and have thus opted to shop for secondhand goods.
“Our new listings grew 50 percent year-over-year in 2020 versus 2019. Then in the first half of 2021, our new listings grew by another 116 percent,” said DiNunzio. “Our ethos is to build things that are durable and last, both in the clothes we sell and the company we create. But with all of this new supply, it makes sense for us to do some growth marketing. It’s another reason we brought Amy [Gershkoff Bolles] in and we raised the capital.”
With the new round of capital, Tradesy plans to not only expand its product category offerings but also scale the business by developing and implementing new ways for sellers to list and promote their products.
Tradesy ranks as one of the most well-funded private resale platforms, running alongside Goat Group and Vestiaire Collective.