Open for Vintage, a luxury resale technology company, has raised a further 1.25 million euros in growth capital, adding to its 700,000 euro raise through a crowdfunding campaign launched in 2021.
The Dublin and London-based firm said it would be using the additional funds to invest in a number of strategic hires for both its locations.
It included the appointment of new brand director, Laura Fletcher, a former head of communications at luxury labels Olivia von Halle and Victoria Beckham, who will join in September.
The business announced that it had made two further key hires in a dedicated boutique partner team based in Ireland to further grow supply.
Funds will also be used to help develop the company’s technology, primarily its global pricing engine which allows customers to shop throughout 14 countries without additional customs or shipping costs.
According to a member of the angel investment group, and a former board member at Meta Platforms Ireland, David Geraghty, Open for Vintage is now poised to rapidly grow globally.
In a release, Geraghty said: “Building trust and breaking down customs barriers also opens luxury resale to many customers for the first time which is positive for sustainability and the environment.”
He will be joining the platform’s leadership team and as a consultant to help the company execute its scaling plans.