United Wardrobe receives 1 million investment from Peak Capital for international expansion
Utrecht, October 25, 2017 - The Utrecht start-up United Wardrobe receives a € 1 million capital injection from Peak Capital. United Wardrobe has quickly become the largest secondhand clothing marketplace in the Netherlands and Belgium. Spread over both countries, four hundred thousand members are active each month, together offering more than 750,000 items of clothing for sale. The aim now is to use the investment to increase the international premarket share in Germany and France.
“The last few years we have been working hard on a unique product. Now it's time for United Wardrobe to continue growing overseas. Peak Capital has a lot of experience when it comes to the international growth of marketplaces. For example as investor in Catawiki. In addition, Peak Capital is actively involved in its investments. That's exactly what we need as young entrepreneurs,” says Sjuul Berden, one of the founders of United Wardrobe.
From quarreling sisters to a successful, social enterprise
Berden: "Every Friday evening I watched my three sisters exchanging clothes. Especially my youngest sister always had a lot of interest in the clothes of her older sisters, who were after all more stylish and adult than she was herself. So it began to simmer: Would she be interested in the clothes of other hip, young girls, who no longer wore their clothes? Why do we find vintage cool, but hardly buy secondhand clothes?" Together with Thijs Verheul and Thijs Slijkhuis, I decided to develop a social platform where fashion lovers can exchange their clothes.
United Wardrobe's clever social media features make sure you can look for unique pieces of clothing in everyone's wardrobe. The app offers a wide range of social features; You can follow your favorite sellers, tag your best friend, and save a list of favorite pieces for inspiration. In addition, fraud - an often-heard issue on comparable platforms - is ruled out at United Wardrobe. The transaction is exclusively through United Wardrobe. Only after a purchased product has been received and approved by the buyer, the seller receives the sales amount.
Johan van Mil, co-founder and partner of Peak Capital: "United Wardrobe makes it possible to sell clothing hanging in your wardrobe unworn while buying clothes for a low price. The strong growth of this marketplace shows us that this system works transnational, making it possible to take full advantage of network effects."
And that's just the beginning: from vintage jackets from Berlin to designer skirts from Paris to warm sweaters from Stockholm and exclusive sneakers from New York, all this must be available soon on United Wardrobe. "By connecting all of Europe's fashion lovers, we create a digital wardrobe with tens of millions of items, making secondhand clothing the norm. I really believe that every day we can give several million items a second life, there are so many garments unworn lying in the farthest corners of wardrobes. Besides, everyone is constantly looking for new clothes. I believe that we can make secondhand fashion hip and happening," says Berden ambitiously.
About United Wardrobe
United Wardrobe, the secondhand clothing platform for both sellers and buyers, was founded in 2014 by the three Wageningen students Thijs Verheul, Thijs Slijkhuis and Sjuul Berden, based on the idea that high-quality clothing that is already in circulation, earned a new owner.
About Peak Capital
Peak Capital is a Dutch investment fund, founded by experienced entrepreneurs, offering growth capital and active support to early stage marketplaces, SaaS and data companies. Peak Capital invests in fast growing Dutch companies, such as Catawiki, Channable, CheapCargo, InvoiceFinance, Flinders, Media Distillery, NPEX, OneFit, Peecho, Radionomy, StuDocu and TradeCloud. Its former investments include IENS, which was sold to listed Tripadvisor in 2014 (NASDAQ: TRIP) and Radionomy, taken over by listed Vivendi (EURONEXT: VIV) in 2015. For more information: www.peak.capital.