Otrium, an Amsterdam-based online fashion outlet, has recently raised $120M in a Series C funding round led by BOND and Index Ventures, with participation from existing investors such as Eight Roads Ventures and Hans Veldhuizen. amsterdambased otrium 120m series The latest funding brings Otrium’s total raised to $158M, and the company plans to use the funds to expand into new markets, increase its team, and enhance its technology platform.
Founded in 2016, Otrium connects fashion brands with consumers by offering a platform for them to sell their excess inventory. The company currently partners with over 500 brands, including ASICS, Karl Lagerfeld, G-Star RAW, and Puma, and operates in eight European countries. By offering a digital platform for brands to sell their excess inventory, Otrium helps them reduce waste and increase revenue while providing consumers access to high-quality fashion at discounted prices.
BOND and Index Ventures Lead the Funding Round
BOND and Index Ventures led the Series C funding round, with participation from Eight Roads Ventures and Hans Veldhuizen. BOND is a global technology investment firm that has backed companies like Airbnb, Canva, and Instacart. At the same time, Index Ventures is a leading venture capital firm that has invested in companies like Dropbox, Etsy, and Slack. Both firms expressed confidence in Otrium’s business model and growth potential.
Otrium Plans to Expand into New Markets
With the latest funding, Otrium plans to expand into new markets, including the United States, Asia, and the Middle East. The company operates in eight European countries, including the Netherlands, Germany, France, and the United Kingdom. Otrium hopes to reach a wider audience by expanding into new markets and offering more brands and products on its platform.
Otrium Aims to Increase Its Team
In addition to expanding into new markets, Otrium plans to increase its team to support its growth. The company currently has over 200 employees and plans to hire more people in engineering, product development, and marketing. Otrium hopes to enhance its technology platform and improve its customer experience by engaging new talent.
Otrium’s Business Model Helps Brands Reduce Waste and Increase Revenue
Otrium’s business model is based on helping brands reduce waste and increase revenue by offering a platform to sell their excess inventory. By selling their excess inventory on Otrium’s platform, brands can avoid having to dispose of unsold items, which would contribute to the fashion industry’s waste problem. At the same time, brands can increase their revenue by selling their excess inventory to a broader audience.
Otrium Offers High-Quality Fashion at Discounted Prices
Otrium’s platform offers consumers access to high-quality fashion at discounted prices. By partnering with over 500 brands, including ASICS, Karl Lagerfeld, G-Star RAW, and Puma, Otrium offers a wide range of products for men, women, and children. Consumers can browse and purchase products on Otrium’s website or mobile app and enjoy discounts of up to 70% off retail prices.
Otrium’s Growth Reflects the Shift to Online Shopping
Otrium’s success and growth reflect the ongoing shift to online shopping, especially in the fashion industry. With more consumers shopping online, brands are looking for new ways to reach their audience and sell their products. Otrium’s platform offers brands a way to sell their excess inventory to a broader audience while providing consumers with access to high-quality fashion at
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