NOLD, the peer-to-peer platform with a mission to reshape the fashion resale landscape and drive sustainability, has successfully raised €1 million in a recent seed round.
NOLD, the peer-to-peer platform with a mission to reshape the fashion resale landscape and drive sustainability, has successfully raised €1 million in a recent seed round.
The funding, led by Tilia Impact Ventures and supported by an alliance of venture capital and strategic investors, including Depo Ventures, Czech Founders, Sofia Angels Ventures, New Vision 3 and four angel investors, is set to play a pivotal role in advancing NOLD’s brand-new product and facilitating its rapid adoption.
At the core of the comapnies mission lies a commitment to mitigate the fashion industry’s substantial environmental impact, a problem that has made the fashion industry one of the world’s largest polluters.
The NOLD solution champions the principles of the circular economy, where nothing is produced and nothing is discarded, thus minimizing resource consumption.
Positioned as the most user-friendly emerging fashion resale platform, NOLD facilitates sustainable, premium, and entry-luxury brands in generating additional revenue streams by capitalizing on the second-hand market.
NOLD’s peer-to-peer marketplace redefines fashion resale by bridging the gap between “new” and “old.” It empowers brands and their customers to seamlessly enter the resale market while ensuring the fastest, most aesthetic, financially-efficient, and environmentally-efficient experience.
One of NOLD’s unique selling points is its exclusive curation. Users can now access pre-loved hubs of renowned brands like Moncler, Loewe, Tory Burch, Ralph Lauren, and many more, making it the go-to destination for conscious fashion enthusiasts seeking affordable luxury.
NOLD’s north star is to shift the retail industry away from excessive production by utilizing existing inventory efficiently.
To achieve this, NOLD follows a business model that is not only commercially sustainable but also environmentally responsible.
Brands can seamlessly join the movement, eliminating the complexities of tech integration.
They need to provide their product database and, in return, capture either 10% of the resale value in net profit or 90% in revenue, depending on the seller’s chosen payout alternative.
NOLD strongly encourages any brand to join this network and be part of the eco-conscious transformation.
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