Funding will accelerate European consolidation and expansion to new verticals
PERCENTIL.com, the online kids’ clothing consignment shop, has announced a €1M Series A investment led by Active Venture Partners, joining fellow investors Cabiedes & Partners and international Business Angels.
PERCENTIL’s mission is to help families save money while buying and selling kids “pre-loved” clothing. It has built a convenient consignment shop that buys nearly-new kids clothing from families, applies strict quality controls and markets the high-quality garments on-line. Founded in Spain, with operations in Spain, Germany and France, PERCENTIL will use the investment to consolidate European expansion and extend its offer to incorporate womens’ clothing.
On average, parents spend almost €500 per child each year, globally representing a market of €110B. Until now, parents lacked easy alternatives to acquire or sell pre-loved clothing. PERCENTIL helps families to save money on the cost of buying high-quality kids’ clothes and provides an opportunity for them to earn money through the sale of barely worn clothes. Most importantly, parents can benefit from this ‘fuss-free’ service because PERCENTIL takes cares of all operations from pick-up to delivery including strict quality controls.
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PERCENTIL plans to become the largest consignment fashion retailer in Europe. Currently the company has a team of 34 professionals and markets 60,000 garments in its on-line store, which have received more than 40,000 orders from 15,000 customers. Shopping at PERCENTIL, families have not only saved €10M to date buying clothing but also earned €500,000 selling nearly-new clothes.
Ricard Söderberg, founding partner of Active Venture Partners, said: “PERCENTIL’s management team has mastered a complex business model, built high barriers to entry and is delivering superior customer service. The experience of doing this and achieving these milestones puts PERCENTIL in a strong position to scale the business for international expansion.”
Luis Ongil, co-founder and CEO of PERCENTIL, said: “This investment will allow us to further revolutionize the way we buy clothes in Europe. Not only will it help us to strengthen our industry-leading position in Spain, and help us to grow in Germany and France where we have recently entered the market, but it also provides us with the opportunity to take our new line, PERCENTIL Woman, to the next level.”