Fashion resale app Curtsy raises 11 million dollars in funding

Curtsy, a fashion resale app targeted at women between 15-30, has raised 11 million dollars in Series A funding.

The funding, led by Index Ventures, will be used to scale, build its team and gain market share, Curtsy announced Thursday. The extra capital brings the total amount raised to 14.5 million dollars.

“The giants in the clothing resale space have been around for a while and haven’t done a great job appealing to casual sellers or keeping up with the times,” said co-founder David Oates in a statement. “Most apps focus on closet cleanout, ignoring the Gen Z use case of rotating their wardrobe.”

Curtsy was founded as an app for women in sororities to rent dresses from each other. It was initially launched at the University of Mississippi before being expanded to campuses across the country - shipping then allowed rentals between schools in early 2018.

The app has now grown ten-fold since 2019 and is facilitating tens of millions of dollars in transaction volume.

It's also been performing well during the pandemic. In October 2020, Curtsy facilitated the sale of 85,000 items, an increase of 35 percent since September.