Recurate’s $3.25 million seed round was led by Gradient Ventures, and the follow-on investors included Rise of the Rest, part of Revolution Ventures, and Third Kind Ventures, the company said in a press release.

The circular economy company enables e-commerce stores to host integrated peer-to-peer marketplaces, allowing the brand's customers to resell items previously purchased from the same brand.

"As a brand, we are committed to promoting the longevity of our garments," said Mara Hoffman, founder and creative director of 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."

"We make it super simple for both retailers and consumers," said Recurate co-founder and CEO Adam Siegel. "Previous customers can quickly list their 'pre-loved' items directly from their purchase history. We manage the shipment from seller to buyer, and the seller is compensated in store credit or cash once the product is delivered. Previously, brands had no control over the experience or revenue from their products circulating online. Now, we can offer a turnkey integration that launches a resale programme in a matter of weeks."

Fibre2Fashion News Desk (KD)