Estonian clothing retailer and circular fashion advocate UPTY closes pre-seed investment round
TALLINN, Estonia, March 7, 2022 /CNW/ — UPTY is the first company to Estonia where users can restore value to clothes they no longer use. The company was created in 2020 with the main objective of reducing consumption and the impact of fast fashion on the environment. UPTY has just completed its pre-seed funding round and raised €650,000 and launched a new investment round with a target of €3M to help the company expand internationally and bring great UPTY’s offer to the rest of the world.
UPTY is an Estonia-based marketplace offering second-hand wardrobe items such as clothes, bags and shoes. Since its launch, the platform has grown and developed with sustainability at its core.
Co-founder by Valentin Savchenko mission with UPTY is not just to help try to save the planet, but to help save another irreplaceable resource of time. Savchenko says, “The time of someone looking into a full closet and wanting to declutter it safely for the planet and for their own lifespan. Let’s give them that opportunity. Better together!” UPTY is designed to give its sellers as much free time as possible.
In 3 simple steps, users can sell on UPTY:
1. Order a free UPTY cleaning bag
2. Place all unnecessary clothes in the bag
3. Return the bag to UPTY via a parcel distributor
Once the bag is received, the garments are subject to quality control. All accepted items are measured, priced, photographed, listed and shipped. Once sold, the seller will receive a percentage of the listing price.
Fight fast fashion
Today, the textile industry is the second most polluting industry in the world, just behind the oil industry. UPTY aims to make a meaningful contribution to mitigating this, using the three Rs as a guide: Reduce, Reuse and Recycle.
The Estonian clothing retailer company was established in 2020 with the main objective of reducing consumption and the impact of fast fashion on the environment. UPTY plans to expand in the future and “circulate” as much as possible around the world.
UPTY currently operates in Estonia, Latvia, Lithuania and Finland. This year, UPTY has started to enter the German market and has new expansion plans for 2022-2023 in France, Italy, Spain, Poland, Czech Republic, Netherlands, Sweden and Norway.
Information: Jekaterina Brek, [email protected] / [email protected]+372 53830066