Fashion site Paradigme stitches up $1.3M in first funding
Summary
France-based fashion resale startup Paradigme has raised 1.2 million ($1.3 million U.S.) in its first funding round.The company plans to use the investment to grow its team, sign up more fashion brands for its fashion resale-as-a-service offering, improve its platform to simplify the buying and reselling experience, increase its number of buyers and sellers, and structurie its operations to boost its processed volumes tenfold by the end of the year.Paradigme lets people sell their secondhand clothing in two minutes in exchange for a gift card that they can use either on new products from its partners, or on used items on Paradigme.fr. Items are checked and reconditioned, if necessary.The startup currently has around twenty partners, including Le BHV Marais, ShowroomPrive.com, La F\xe9e Marabout\xe9e and Petite Mendigote.Brothers Fabien and Vincent Huch\xe9-Deniset launched the site two years ago, since when it had been self-financed prior to the funding.Participants in the round include: ShowroomPrive.com, Hartwood, Vanessa Daurian Proust (One Green), Neo Founders, Ilan Benhaim (Veepee ), Fabrice Lepine (Wonderbox), Fr\xe9d\xe9ric Maus (WSN ), Edouard Natt\xe9e (Foxintelligence ), Campus Fund, Gregoire Baudry (Bain & Company), Marine de Waziers and several other business angels.The Paris-based company has a staff of six.