Resale tech company Treet has announced the closing of a 3.5 million dollar seed round led by First Round Capital, as it looks to grow its team and launch into new markets.
It brings its total raised funding to 6.4 million dollars, which has been garnered across pre-seed and seed rounds.
The new financing will support Treet’s further plans to accelerate brand partnerships, launch new categories and add additional resale features to its platform.
In a blog post on its site, Hayley Barna, partner at First Round Capital, said: “Treet’s platform makes branded resale a no-brainer for e-commerce companies looking for a meaningful way to grow while being more sustainable in the process.
“Given changing consumer preferences, I believe resale will be table-stakes for all brands in the near future.”
Treet’s partnerships sees brands swiftly launch their own resale experience, in which they can control their own market, pricing and various payout options.
Its offer spans peer-to-peer resale to fully managed take-back programmes, with it counting brands like Shein, Cuts and BRYR among its portfolio.
According to the firm, it now powers more than 50 percent of all branded resale experiences that are currently live.