Re-sale fashion marketplace UPTY secures pre-seed investment

Fashion re-sale marketplace UPTY has closed a pre-seed funding round, securing 650,000 euros in investment.

The Estonia-based company, which was founded in 2020, has set a target of 3 million euros to scale and expand internationally.

UPTY offers pre-loved wardrobe items and accessories and was developed as a platform with sustainability at its core. Users can sell on the marketplace by ordering a free UPTY Clean Out Bag for their unwanted items. After these are received and approved all accepted items are measured, priced, photographed, listed and shipped. Once sold the seller will receive a percentage of the listing price.

UPTY currently operates in Estonia, Latvia, Lithuania and Finland and this year will roll out to Germany. By 2023 the company expects to be operational in France, Italy, Spain, Poland, Czech Republic, Netherlands, Sweden and Norway.