Fleek Raises €21.9 Mn in Series B Round led by Burda Principal Investments

The funding round was led by Burda Principal Investments. Other investors included eBay, FJ Labs, and H14.

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Existing investors Andreessen Horowitz, HV Capital, Y Combinator, and others also participated in the round, showing continued support for Fleek's growth.

Abhi Arora, co-founder and CEO of Fleek, said, “Most people have no idea what happens to a piece of clothing after they part with it. It travels thousands of miles, gets sorted by hand in a warehouse in Karachi, and finds its way back to a vintage shop in London or New York, if it’s lucky. We started Fleek because that system is broken, the market it serves is exploding, and nobody is building the technology and infrastructure to fix it.”

Sanket Agarwal, co-founder and CTO of Fleek, said, “There’s more data locked inside the global secondhand supply chain than almost any other market, yet historically very little of it has been captured. We’ve built the world’s first AI trained specifically to understand secondhand inventory — what it is, what it’s worth, who wants it and where demand exists. Every transaction improves that understanding, creating an intelligence layer we believe will become critical infrastructure for the future of the industry.”

Julian von Eckartsberg, Managing Director Europe at Burda Principal Investments, said, “We backed Vinted when secondhand fashion was still considered niche. We know what it takes to build a platform that scales in this market. From its growing supplier network to the technology behind it, Fleek is building the infrastructure the next generation of fashion will rely on.”

Founded in 2021 by Abhi Arora and Sanket Agarwal, Fleek is building a B2B marketplace that connects businesses involved in the global secondhand clothing industry, making it easier for them to buy and sell used clothing.

The company also uses AI technology to digitize and improve the supply chain, helping businesses manage sourcing, operations, and inventory more efficiently.