The UK-based luxury resale company announced a raise of £7.5 million ($9 million) on Monday.

EBay’s venture capital arm participated in the funding round, while Cudoni also raised capital from existing investors such as The Daily Mail Group Ventures and veteran retail executive Andrew Jennings.

Resale remains a fast-growing fashion market, despite profitability challenges for the big players as they scale. This is also an area where eBay is looking to expand its market position.

“It’s a tremendous vote of confidence in the brand and our ambitions, to receive investment from recommerce pioneer, eBay, in what has been an incredibly challenging year for the consumer industry,” said the founder. and managing director, James Harford-Tyrer, in a statement.

The latest investment brings the total raised by Cudoni to £14.3m since its inception in 2017.

The company plans to invest the £7.5m raised in its sales and marketing functions, “with a view to bringing what we do on a larger scale to more people”, Harford said. -Tire at BoF.

Since the end of 2020, the volume of sales on the resale platform has increased sevenfold.

The platform says it connects “millions of buyers and sellers globally” and has items from more than 4,000 brands available for purchase on its site, in categories such as handbags luxury, watches and jewelry and streetwear.

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