We wanted to in-depth analysis of the marketplace sector and we have come across an active niche in the corporate financesecond-hand markets. In this new post we have talked about the round of financing that the Mexican GoTrendier has received and about the sale of companies most significant in the sector.
GoTrendierthe leading application for buying and selling fashion among women in Latin Americacontinues its growth strategy with a new 3.5 million funding round. The company was founded in 2016 by four Spanish entrepreneurs who decided to launch a Marketplace in Latin America.
The capital injection made on 29 January will allow the company to accelerate its growth rate in Mexico and Colombia, open a new market in Chile and boost the technical team that will allow the company to gain scale. This is the third round of investment in the company's history.
Banco Sabadell strengthens its position as a shareholder, while this round gives access to a new shareholder, Ataria, a Peruvian fund that invests in technology companies with high early-stage potential. IGNIA also reinforced its position, along with Antai Venture Builder, Bonsai Venture Capital, Pedralbes Partners and several business angels.
As Sergio Pérez, Investment Director at Sabadell Venture Capital, explained: "The market volume for buying and selling second-hand clothing in the world amounted to 360 billion transactions in 2017, and expected to reach 400 billion by 2022".
After analysing the round, we will outline the different movements that have arisen in this sector in terms of sale of companies. We searched internationally and looked at the most recent operations. We have noted the following:
Founded in 2009, Videdressing is a second-hand market for buying or reselling fashion and luxury goods. It also offers a payment system and anti-fraud measures, among others. Last year, the company achieved a turnover of approximately EUR 35 million thanks to sales commissions, 25,000 transactions and 3 million visits per month.
On 28 November 2018, we learned of the operation by buy by France's LeBoncoin. The amounts of the transaction have not been disclosed by either party.
The measure is strategic for LeBoncoinThe company is now a major player in the online fashion market in France. LeBoncoin is a classified ads website.
KAR Auction Services, a global automotive remarketing and technology services company, announced on 28 November 2018 that it had reached a definitive agreement to acquire CarsOnTheWeb (COTW). The sale is valued at approximately EUR 91 million in cash and up to an additional EUR 65 million. for a specified period of time, subject to certain terms, conditions and COTW performance.
COTW is a Belgian online auction company for high-quality second-hand cars exclusively for registered dealers and traders. With sales operations in Belgium, France, Germany, Italy, The Netherlands and Spain, COTW offers sellers in these countries and buyers in more than 50 countries with a wide range of vehicle auctions, transport and related assistance services.
Once completed, the acquisition will advance KAR's international strategy and expand its strong portfolio of physical, online and digital auction markets. KAR also intends to leverage the COTW to implementing the company's technology, data analytics and other ancillary services capabilities across Europe.
The 2nd Edit is a major second-hand marketplace. for luxury fashion and design. It was founded in Copenhagen in 2015, with the ambition to revolutionise the way we buy and sell second-hand clothing, improving the customer experience both at the point of sale and at the point of purchase.
The sale of the company was confirmed on 1 June 2018, although the amounts are unknown. The company that made the purchase was Rebelle, one of the competitors of The 2nd Edit.
StyleRemains GmbH, which operates Rebelle, was founded in 2013 in Hamburg and focuses on designer brand fashion. It allows sellers to list items themselves or via a consignment service run by the company. It lists around 100,000 items and the average sale is €300.
With the move, Rebelle, which also operates in the UK, Italy, Austria and the Netherlands, expanded into Scandinavia. Following the operation The 2nd Edit brand disappeared.
Founded in 2005 in the UK, World of Books has been a pioneer in the reuse and recycling of used booksworking with charity shops to collect used books. Also resells as much as possible and recycles the rest to make cardboard and newsprint packaging.
World of Books has created a financial benefit of £11 million from 2012 to 2017 for charities it works with. In the UK, the online book market is worth around £200 million per year, approximately 10% of the total book sales market, and is growing at approximately 15% per year.
These aspects prompted Bridges Fund Management, a specialist fund manager, to buy the UK company. The transaction took place on 29 November 2016 and was valued at £13 million.
Oliver Wyncoll, Partner at Bridges Ventures, commented: "Sustainable living is a key focus for Bridges, so we are very excited to invest in World of Books. Its pioneering circular economy model is not only incredibly impactful in terms of waste reduction, but also helps charities and gives it a strong market leadership position in a growing sector."
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