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Pickle Secures $12M Series A to Scale its Peer-to-Peer Fashion Rental Marketplace
- Pickle has secured a $12M Series A funding round led by FirstMark and Craft Ventures, bringing total capital raised to $20M.
- The platform operates as a peer-to-peer fashion rental marketplace, connecting users directly to rent fashion items from each other's closets.
- Pickle aims to make high-end fashion accessible while enabling closet owners to earn money from their wardrobe by renting out items.
- The company currently has over 200,000 items from 2,000+ brands on its platform, fostering a circular economy in fashion.
- Pickle allows users to list items for rent, set pricing, and select shipping methods, while renters can easily browse and rent items online or in-app.
- The founders, Brian McMahon and Julia O'Mara, started Pickle to help people make better purchasing decisions by connecting a community of shareable closets.
- Unlike traditional fashion rental companies, Pickle's supply comes directly from individuals' closets, allowing them to keep up with real-time trends.
- Pickle targets a broad market looking for affordable, convenient, and circular fashion solutions, with a focus on women's clothing and accessories.
- The company charges a service fee on transactions and offers on-demand, same-day delivery through its courier network.
- Pickle plans to expand its team, product offerings, and market presence in cities beyond its current strongholds like NYC and LA.
- The founders advise companies without fresh capital to focus on core value propositions, serve customers well, and leverage the diverse opportunities in New York for building.
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