UK Fashion Resale peer-to-peer Startup NOLD €1 million in seed funding. The funding is led by Tilia Impact Ventures and sponser by a consortium of venture capital and strategic investors, including Depo Ventures, Czech Founders, Sofia Angels Ventures, New Vision 3 and four angel investors.
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NOLD helps environmentally friendly, high-end luxury companies create extra revenue streams by leveraging on the second-hand market, thereby encouraging a circular economy in the fashion sector.
Brands merely need to offer their product database to use its platform in exchange for 10 percent of the resale value in net profit or 90 percent of the income, depending on the seller’s preferred payout option.
With a displacement rate of sixty-five percent, NOLD’s resale model greatly minimizes its environmental impact by saving enormous amounts of water and lowering CO2eq emissions.
The platform for NOLD is expected to go live in Q1 2024 with an eye on the UK market.
With a leapfrog peer-to-peer hub which involves you and your clients in the circular economy in the smartest, most frictionless way imaginable to remove the impact of fashion, NOLD—quite literally the point of intersection between “new” and “old”—redefines the concept of fashion resale.