Singapore-based Refash gets US$294K seed funding to help women clear their wardrobe
The round was led by Tri5 Ventures, with participation from Tinkbig Ventures and an undisclosed angel investor
Refash, a fast fashion resale and hybrid retail platform for women to buy and sell pre-loved clothing items, announced that it has raised a seed round of S$400,000 (US$294,323). The round was led by Tri5 Ventures, with participation from Malaysia-based Tinkbig Ventures and an undisclosed angel investor.
A graduate of a recent SPH Plug and Play accelerator programme, the startup aims to help women clear their wardrobe of unwanted items such as clothing, bags, and accessories. This seemingly trivial issue actually has some environmental consequences, with Singaporeans disposing up to 41.5 million kilogram (8 kilogram per person) of unwanted clothing each year.
“The disposing of so much clothing is a real waste, literally. Rather than just throwing away, I believe in the immense potential in the problems we are solving – bursting closets, clothes wastage and rising landfills to dispose these clothes,” said Refash CEO and Founder Aloysius Sng.