Peer-to-Peer Platform NOLD Raises EUR 1M to Power the Next Generation of Fashion Resale
The tech company is empowering sustainable, premium, and entry-luxury brands in its mission to reduce the fashion industry's impact.
NOLD, an innovative software company focused on revolutionizing the fashion resale landscape, has successfully raised EUR 1 million in a recent Seed Round. The funding, led by Tilia Impact Ventures and supported by a consortium of venture capital and strategic investors, including Depo Ventures, Czech Founders, Sofia Angel Ventures, New Vision 3 and four angel investors, is set to play a pivotal role in advancing NOLD's brand-new product and facilitating its rapid adoption.
With a strong focus on the UK market, NOLD plans to initiate its next funding round as soon as the platform launches, leveraging more than 20,000 pre-launch sign-ups. Prospective investors who wish to be part of this exciting journey can subscribe to NOLD’s investor newsletter here.
NOLD's core mission revolves around mitigating the environmental impact of the fashion industry. Positioned as the most seamless emerging peer-to-peer fashion resale platform specializing in sustainable, premium, and entry-luxury brands, NOLD is redefining the sector. This approach involves fostering brand partnerships and allowing customers to list and sell products without incurring commission fees, all while preserving each brand's unique aesthetic in a centralized ecosystem, contributing to a more sustainable fashion industry.
One of NOLD’s unique selling points is its super exclusive curation. Users can now sign up for pre-loved hubs of brands like Moncler, Loewe, Tory Burch, Ralph Lauren, and many more, making it a go-to destination for fashion enthusiasts seeking conscious and cost-efficient luxury. The company's overarching goal is to steer the retail industry away from excessive production by utilizing all existing inventory in an exciting, seamless product that benefits brands, users, and the planet. To accomplish this, NOLD follows a business model that is both commercially sustainable and environmentally responsible.
The platform offers a hassle-free way for brands to join the movement, eliminating the complexities of tech integration. Brands only need to supply their product database and, in return, capture either 10% of the resale value in net profit or 90% in revenue, depending on what payout alternative the seller chooses. Partnering with brands is paramount to NOLD and so any brand is encouraged to join the network here.
In pursuit of these ambitious goals, NOLD benefits from the guidance of an esteemed advisory board, comprising five exceptional professionals:
- Justine Liu, Former President & Chief Merchant at Girlfriend Collective, and Former Director of Brand Marketing at Reformation.
- Maÿlis Buonomo, Former Head of Social Impact & Sustainability Communication at Chloé.
- Alexis Cepeda Maule, Managing Director UK & Europe at Reformation.
- Léon Evers, Director Brand Office Operations at Tommy Hilfiger.
- Dax Lovegrove, Former Director of Sustainability at Jimmy Choo, and Versace, as well as Former Chief Sustainability Officer at Swarovski.
Scheduled for launch in Q1 2024, NOLD's platform is set to transform the fashion industry by offering an unparalleled resale experience for both consumers and brands. With a focus on sustainability and catering to premium and luxury segments, NOLD aims to accelerate the fashion industry's journey towards a climate-positive future. You can sign up for early access here and become an early adopter of the circular future of fashion.
Founded in 2020 by Boryana Uzunova and Ana Kremenlieva, NOLD emerged from a shared vision to revolutionize the fashion industry's approach to sustainability and resource conservation. Recognizing the urgent need for change, the co-founders embarked on a mission to minimize the fashion industry's environmental footprint by embracing the principles of the circular economy. At its core, NOLD is committed to commercial sustainability, offering compelling incentives for both users and brands. Quite literarily the meeting point between “new” and “old”, NOLD, redefines fashion resale with a leapfrog peer-to-peer hub that engages brands and their customers in the circular economy in the smartest, most seamless way to eliminate the impact of fashion.
Furthermore, NOLD has partnered with Impact of Fashion (iof.earth), a data-driven software specializing in assessing the environmental impact of fashion. This partnership allows brands to understand and take ownership of their resale market's impact. Notably, NOLD's resale model significantly reduces the environmental footprint, with a displacement rate of 65%, conserving vast amounts of water and reducing CO2eq emissions. Each resale transaction contributes to a net positive climate effect by preventing new resource consumption and waste production, marking a significant step toward a more sustainable fashion industry.
Join NOLD in reshaping the future of fashion by participating in a circular, eco-conscious community that empowers individuals to be agents of change. Visit www.nold.app to learn more about NOLD's mission and innovative approach to sustainable fashion.