Funding will accelerate European expansion and consolidate new Woman Fashion vertical
PERCENTIL.com, the leading second hand fashion consignment store in Europe, has announced today a €3.2M Series A investment by SEAYA Ventures, ACTIVE Venture Partners and others.
PERCENTIL’s mission bridges consumer appetite for top quality fashion with those who want to sell their pre-loved children and ladies garments. Through a premium shopping experience and very experienced processing center, PERCENTIL has created a platform unique in concept that fulfills a broader vision of eco-friendly consumer and purchases needs. The average person throws away 30 kilograms of clothing a year. PERCENTIL is poised to be part of the solution.
The service is convenient for seller and shoppers. Garments are received every day from sellers across Europe; each item is quality assured and then uploaded for sale on its online destination at a up to 85% discount compared to the price at the original store. It is an End to End service for the seller as the company takes care of the entire selling cycle. It is a premium shopping experience for the shopper as it can find thousands of top quality guaranteed garments conveniently in one site with top post sale service. Founded in Spain in late 2012, the company is already operating in Germany, France and Austria. PERCENTIL.com will use the investment to consolidate its European expansion and grow its recently launched Women’s Fashion vertical.
PERCENTIL.com initiated the consolidation of this vertical in Europe by buying the leading player in Germany, Kirondo.de just a few months ago. This acquisition gave the company a fully functioning fulfillment center in Berlin with a 25 member team, 35,000 items in stock and thousands of sellers and shoppers in Germany and Austria. Together with its current 40 member team in its hub in Madrid, Spain, with additional 100,000 items for sale in French and Spanish markets, makes PERCENTIL.com the first truly pan-European player in the consignment fashion space.
The company currently delivers 70,000 items in more than 10,000 orders per month. Over 75,000 consumers have bought or sold items through PERCENTIL.com and Kirondo.de. With the current investment the company plans to triple the number of items it offers while growing the number of new sellers/ shoppers. Other projects planned include an advanced m-commerce platform and expanding into two new European markets within the next months.
Luis Ongil, co-founder and CEO of PERCENTIL, said: “We celebrate our third year as we close this round and are thrilled by the achievements to date as well as our future. This round, larger than all other rounds we’ve done combined, will allow us to consolidate our position as the leading End to End service solution for second hand fashion in Europe. We are also very excited to add SEAYA VENTURES to our current investor pool and to receive continued support from Active Venture Partners. We now have the expertise, technology, and processes in place which, together with these funds, will ensure we take the company to the next level”.
Ricard Söderberg, founding partner of ACTIVE Venture Partners, said: PERCENTIL.com has a unique model which benefits every stakeholder- the buyer, the seller, and nonprofits. This round will only reinforce PERCENTIL’s leading position in Europe for the consignment model for pre-loved clothes, which has had great success in the US with companies such as THREDUP.