Rebag secures 15 million dollars in series D funding

Luxury resale platform Rebag continues to grow. The company raised
15 million dollars in its latest round of funding, led by private
equity firm Novator and including backing from existing investor
General Catalyst. Rebag’s total funding raised is 68 million
dollars.

In a company statement, Rebag noted that its recent funding
demonstrates an industry belief that a circular fashion model is the
future of retail.

“Over the last few years, we’ve witnessed the tremendous growth
potential of the resale market,” Novator partner Birgir Ragnarsson
commented. “I am a firm believer in Rebag’s unique positioning, luxury
expertise and cutting-edge innovation. By continuing to be a leader in
the secondary market, Rebag bridges the gap between technology,
luxury, and the future of retail.”

Rebag will use its new funding to build upon its integrated
technology, such as its It also plans to scale
its Infinity Program, which allows customers varying tiers of credit
to trade in a Rebag purchase for a new style, with up to a year to
make a selection.

“We are so proud of what we have accomplished in all areas of our
technology. We look forward to expanding our capabilities and sharing
them with our customers,” Rebag founder and CEO Charles Gorra said.
“We believe the current environment is going to accelerate the
transition towards resale. At Rebag we built a brand and a platform
that can cater to that growing audience. New opportunities will arise,
and we are gearing up to capitalize on the secular trends towards
resale ubiquity.”

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