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Estonian clothing reseller and circular fashion advocate UPTY Closes Pre-Seed Investment Round
ByPublished : March 7, 2022 - 09:30
TALLINN, Estonia, March 7, 2022 /PRNewswire/ -- UPTY is the first company in Estonia where users can restore value to the clothing they no longer use. The company was created in 2020 with its main goal being to reduce consumption and the impact of fast fashion on the environment. UPTY has just completed its pre-seed funding round and has raised €650,000 and started a new round of investment with a target of €3M to help the company expand internationally and bring UPTY's great offering to the rest of the world.
UPTY is an Estonian-based marketplace offering pre-loved wardrobe items such as clothes, bags and shoes. Since its launch the platform has grown and developed with sustainability at its core.
UPTY Mission
Co-founder Valentin Savchenko's mission with UPTY is not only to help try to save the planet but to help save another irreplaceable resource time. Savchenko says: "Time of person, who looks in a full closet and wants to declutter it safely for the planet and for own life time. Lets give them this opportunity. Better together!" UPTY is built so its sellers have as much free time as possible.
In 3 simple steps, users can sell on UPTY:
1. Order a free UPTY Clean Out Bag
2. Place all unnecessary clothes in the bag
3. Send the bag back to UPTY via a parcel machine
Once the bag is received the clothes undergo quality control. All accepted items are measured, priced, photographed, listed and shipped. Once sold the seller will receive a percentage of listing price.
Fighting fast fashion
Today the textile industry is the second most polluting industry in the world, second only to the oil industry. UPTY aims to make a significant contribution to alleviating this, using the three R's as a guide: Reduce, Reuse and Recycle.
About UPTY
The Estonian clothing reseller company was created in 2020 with its main goal being to reduce consumption and the impact of fast fashion on the environment. UPTY plans to expand out of fashion on the future and "circulate" as many things as possible all over the world.
UPTY currently operates in Estonia, Latvia, Lithuania and Finland. This year, UPTY has started to enter German market and has further expansion plans for 2022-2023 in France, Italy, Spain, Poland, Czech Republic, Netherlands, Sweden and Norway.
