Pre-owned clothes resale website Refash has raised a US$294,000 seed round, it announced today. The funding round was led by Singapore’s Tri5 Ventures and joined by Malaysia-based Tinkbig Ventures and an angel investor who was not named.
Singapore-based Refash is a place for people to “recycle” unwanted clothes. The startup claims that Singaporeans get rid of 41.5 million kilograms of clothes every year, which largely goes to waste. Founder and CEO Aloysius Sng wanted to create a solution where people can resell their clothing surplus to others quickly and easily.