Total amount raised
$68.3 Millions
Latest funding date
05/01/2020
Location
Rebag has successfully raised significant funding over multiple rounds, establishing itself as a key player in the luxury resale market.
Keep reading to explore the intricacies of Rebag's fundraising journey and the investors backing this innovative platform.
What Is Rebag?
Rebag, founded in 2014, is a luxury resale platform specializing in designer bags, watches, jewelry, and other high-end accessories. The company was established in New York City by Charles Gorra.
Rebag has grown significantly since its inception, now employing over 200 people. The platform offers a seamless experience for buying and selling pre-owned luxury items.
With a focus on quality and authenticity, Rebag has become a trusted name in the luxury resale market, attracting a diverse clientele looking for premium products at competitive prices.
How Much Funding Has Rebag Raised?
- Seed Round
- Amount Raised: $4 million
- Date: August 2015
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain initial traction and secure a sourcing network of third-party stylists, personal shoppers, and retail sales associates.
- Series A Round
- Amount Raised: $8 million
- Date: May 2016
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue rapid growth, hire for marketing and operations, and expand warehouse space.
- Series B Round
- Amount Raised: $15.5 million
- Date: July 2017
- Lead Investors: Novator and General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire more employees, develop resale pricing technology, and expand its sourcing network.
- Series C Round
- Amount Raised: $25 million
- Date: February 2019
- Lead Investors: Novator, with participation from General Catalyst and FJ Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand its offline retail operations by opening 30 more stores and to refine its pricing and handbag evaluation tools.
- Latest Funding Round
- Amount Raised: $15 million
- Date: May 2020
- Lead Investors: Novator Partners LLP, General Catalyst Partners LLC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve the startup’s e-commerce operations and to adapt to the retail shutdown caused by the coronavirus pandemic.
Total Amount Raised: $67.5 million
Current Valuation: Not publicly disclosed
Key Investors
- Novator Partners LLP
- Details: A London-based private equity firm founded by Icelandic entrepreneur Thor Bjorgolfsson. Known for its strategic investments in high-growth companies.
- Investment Focus Areas: Technology, telecommunications, consumer sectors
- Notable Investments: Play Communications, WOM, Zwift
- General Catalyst Partners LLC
- Details: A venture capital firm that invests in early-stage and growth-stage companies. It has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, healthcare, consumer products
- Notable Investments: Airbnb, Stripe, Snap Inc.
- FJ Labs
- Details: A venture capital firm and startup studio that specializes in marketplace and consumer internet investments. Co-founded by Fabrice Grinda and Jose Marin.
- Investment Focus Areas: Marketplaces, consumer internet, network effects businesses
- Notable Investments: Alibaba, Uber, Flexport
- Crosslink Capital
- Details: A venture capital firm that invests in early-stage and growth-stage companies. It has a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, consumer, enterprise sectors
- Notable Investments: Pandora, Ancestry.com, Coupa
- Big Sur Ventures-Necotium
- Details: A venture capital firm that focuses on early-stage technology companies. It aims to support innovative and high-potential startups.
- Investment Focus Areas: Technology, innovation-driven companies
- Notable Investments: Cabify, Jobandtalent
What's Next for Rebag?
Rebag's future looks promising as it capitalizes on the growing trend of online luxury resale. With a recent $15 million funding round, the company is poised to enhance its e-commerce operations, tapping into the increasing consumer shift towards online shopping. This opportunity is substantial, given the high demand for authenticated, second-hand luxury goods.
As Rebag continues to grow, future fundraising opportunities seem likely. The company's ability to attract significant investment during challenging times suggests strong investor confidence. However, Rebag will need to navigate competition from other luxury resellers and balance its online and offline operations to maintain its market position.
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