Circular economy startup Recurate secures $3.25m in funding

E-commerce venture, Recurate, has announced partnerships with La Ligne, Mara Hoffman, and Peak Design. 

It has also completed a $3.25 million seed round led by Gradient Ventures. 

Recurate, which was founded in 2020, enables brands and e-commerce stores to host peer-to-peer marketplaces, allowing customers to resell items previously purchased from them.

It works with fashion, outdoor gear, electronics, and equipment brand companies and is expanding into new categories in 2021

"We're investing in Recurate because their team recognised a tremendous opportunity for brands to bring used goods sales back to their own online properties," says Zach Bratun-Glennon, Partner at Gradient Ventures.

"With Recurate's platform, brands bring best in class e-commerce experiences to resellers and customers of used goods, as well as generate greater community and loyalty for the brand. We expect the growth in the demand for e-commerce, circular commerce, and sustainable purchasing options to continue."

"Brands are losing millions every year to young shoppers going elsewhere to buy and sell pre-loved goods," says Co-founder and COO Wilson Griffin.

"People are buying and selling everyday on platforms like Depop, ThredUP, Poshmark, and The RealReal. We give brands a way to capture their secondhand sales resulting in more brand loyalty, revenue, and most importantly, a more sustainable shopping option."

"As a brand, we are committed to promoting the longevity of our garments," says Mara Hoffman, Founder and Creative Director, Mara Hoffman.

"By using the Recurate service, we were able to create a dedicated space on our own platform for our customers to buy and sell pre-owned Mara Hoffman garments, taking us a step closer to our overarching sustainability goals."

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Funding roundsStaff WriterRecurate, Circular economy, Green retail, Startups, Funding rounds, E-commerce, Online retail, Mara Hoffman, La Ligne, Peak DesignComment