Curtsy, the app that lets users resell clothes, just raised $11 million in a Series A funding round.
The round was led by Index Ventures with participation from Y Combinator, FJ Labs and 1984 Ventures. To date it raised $14.5 million in funding.
Curtsy will use the funds to expand its product and marketing operations.
Focused on Generation Z who are looking for more sustainable ways to shop, the app will allow users to list their own shoes and clothes.
Its revenues run at around $25 million in 2020, at an average monthly growth of 30%.
One of the issues with existing resale apps is that it can take a long time to list individual items.
Curtsy is different because it takes some of the friction out of the listing process.
Whether someone is a casual or professional seller doesn’t matter.
The app makes use of machine learning technology to help sellers list their items and increase their changes of selling.
Curtsy automatically recommends a price and helps pre-fill details like brands and categories as well as shipping weight.
A human reviewer is also on hand to check these details and iron out problems.
People who are selling on the app for the first time are even sent a free starter kit to package their items before shipping them including a label service. That’s because Curtsy realised that many Gen Z users don’t have printers at home.
The company takes a cut of 20% from sales.
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source https://www.businessofapps.com/news/curtsy-clothing-resale-app-raises-11-million-in-series-a/
