Rebagg, an online resell market for designer handbags, has raised $8 million in Series A funding to continue the pace of rapid growth.
There are a lot of designer clothing and handbag resellers out there, including Tradesy, TheRealReal, and even secondary markets out of RenttheRunway or eBay. So Rebagg is not without competition.
But General Catalyst, which led the latest round, believes Rebagg’s approach to removing retail middle persons and incorporating a fast payment to sellers “within days” give Rebagg an edge in the market.
“This business is about execution and Charles and his team have gained significant traction over the past year, securing a sourcing network of over 3,500 third-party stylists, personal shoppers and retail sales associates with a unique and proprietary supply of luxury inventory,” GC’s Adam Valkin told TechCrunch.
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