Otrium raises €24 mn to extend fashion's life cycle

30 May '20

1 min read

Pic: Otrium

Otrium, an Amsterdam-based online fashion marketplace that helps global and independent clothing brands sell end-of-season collections that would otherwise go unsold, has raised €24 million in Series B funding, in a round led by Eight Roads Ventures (Alibaba, Treatwell, Made.com). Existing investors Index Ventures (Asos, Net-a-Porter, Farfetch, Glossier) and Hans Veldhuizen also participated.

The company also announced the launch of its UK site, adding to its presence in the Netherlands, France and Germany. The funding will be used in part to fuel further international expansion.

Otrium’s fashion marketplace is underpinned by a sophisticated e-commerce platform that provides fashion brands with in-depth analytics and a dynamic pricing engine, tailored to help maximise revenues on each item.

Brands retain full control over pricing, merchandising, and visibility of their excess inventory , according to a press release by Index Ventures.

Otrium works with over 200 global names and up-and-coming designers , whose products are marketed to the million registered Otrium shoppers.

Founded in 2016 by Milan Daniels and Max Klijnstra, Otrium’s mission is to extend the life cycle of fashion.

Fibre2Fashion News Desk (DS)

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