SUB-INDUSTRY Circular economy & marketplace
greenchic is the first community-based platform to earn value from clothes, shoes and bags you no longer use. From the comfort of home, users earn reward points (“stars”) by shipping their clothes. The stars can be spent immediately to buy clothes, shoes and bags, adding a few euros: an easy, fast and fun customer experience. Unlike the international Peer 2 Peer fashion re-commerce players, Greenchic has its own logistics center in Genoa and a series of services that make the customer experience excellent.
greenchic was looking for capital to consolidate its presence in the domestic market and invest in operational efficiency to further exploit scale effects and cost reductions, including through the construction of a new state-of-the-art logistics center in Genoa.
THE ADVISOR’S SUPPORT
With the support of CBGC, greenchic met a large number of investors of different categories. The governance conditions were negotiated, with particular attention to environmental impact issues as required by the presence of impact investing funds, which requested the transformation into a Benefit Company. As a result, a capital increase of €1.6M was opened, supplemented by €1M of bank financing.
INVESTORS AND PROCESS
a|impact, primary Impact Investing VC fund in Italy, strategic industrial investors in fashion and business angels, including Simone Canclini – President of Canclini Tessile Spa and Andrea di Bella – CEO of Mhart Technologies participated in the round.
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