London-based startup Fleek has raised $20.4 million to expand its secondhand clothing platform.
Fleek works with thousands of resellers and retailers worldwide, facilitating the sale of 2.5 million secondhand clothing items from 1,000 wholesale suppliers.
The funding round included investors such as Andreessen Horowitz, Y Combinator, Shopify president Harley Finkelstein, and others.
Despite challenges faced by some secondhand clothing platforms, the resale market is projected to grow at about 11% per year through 2028.