Nerety raises €200,000 in funding round
Spanish fashion marketplace Nerety has raised 200,000 euros in its second investment round. The capital injection will be used to scale the company’s turnover. It also wants to expand internationally into Italy, Germany and the Netherlands.
The online marketplace is originally from Barcelona and was founded in 2020. The platform promotes new designers who do not always have the means to reach the general public. It wants to maintain affordable pricing and support small businesses. Currently, the platform has over 20,000 customers and over 50 brands available.
Nerety keeps 25% commission
“We are creating a global community in which all emerging fashion brands want to be present. A close meeting point that accompanies the best fashion entrepreneurs to get in touch with young people who want to dress in a different and unique way”, said co-founders Alex Puigmal and Javier Bonnin.
‘Orders are sent directly to the designer.’
Customers can choose a product they want on the marketplace. The order is then sent directly to the designer, and does not pass to Nerety. The platform handles the payment, but keeps 25 percent as a commission. The rest of the paid amount goes directly to the designer.
€200,000 in funding round
In a second funding round, the platform raised 200,000 euros. The funds were raised by several business angels and an investment fund called Bcombinator. The startup’s founders already have plans for the capital injection.
‘Nerety wants to expand into Italy, Germany and the Netherlands.’
The startup wants to scale its turnover, to consolidate its position in the Spanish ecommerce market. At the same time, it wants to expand internationally. It will expand into Italy, Germany and the Netherlands first.
Strong GMV growth
The platform has already been growing its turnover steadily. In November last year, its gross merchandise value was 91,994 euros. This was a growth of 723 percent when compared to its GMV in the same month the year before.
‘The company expects a GMV produced in Q4 of €1 million.’
In Q4 of 2021, it achieved a GMV of 226,235, which was a 1040 percent growth when compared to the same quarter a year earlier. The company expects to end Q4 of this year with a cumulative GMV of 1 million euros, with a gross margin of 25 percent.