Estonian Clothing Reseller and Circular Fashion Advocate UPTY Closes Pre-Seed Investment Round
PR94849
TALLINN, Estonia, Mar. 7, 2022 /PRNewswire=KYODO JBN/--
UPTY is the first company in Estonia where users can restore value to the
clothing they no longer use. The company was created in 2020 with its main goal
being to reduce consumption and the impact of fast fashion on the environment.
UPTY has just completed its pre-seed funding round and has raised Euro 650,000
and started a new round of investment with a target of Euro 3M to help the
company expand internationally and bring UPTY's great offering to the rest of
the world.
UPTY is an Estonian-based marketplace offering pre-loved wardrobe items such as
clothes, bags and shoes. Since its launch the platform has grown and developed
with sustainability at its core.
UPTY Mission
Co-founder Valentin Savchenko's mission with UPTY is not only to help try to
save the planet but to help save another irreplaceable resource time. Savchenko
says: "Time of person, who looks in a full closet and wants to declutter it
safely for the planet and for own life time. Lets give them this opportunity.
Better together!" UPTY is built so its sellers have as much free time as
possible.
In 3 simple steps, users can sell on UPTY:
1. Order a free UPTY Clean Out Bag
2. Place all unnecessary clothes in the bag
3. Send the bag back to UPTY via a parcel machine
Once the bag is received the clothes undergo quality control. All accepted
items are measured, priced, photographed, listed and shipped. Once sold the
seller will receive a percentage of listing price.
Fighting fast fashion
Today the textile industry is the second most polluting industry in the world,
second only to the oil industry. UPTY aims to make a significant contribution
to alleviating this, using the three R's as a guide: Reduce, Reuse and Recycle.
About UPTY
The Estonian clothing reseller company was created in 2020 with its main goal
being to reduce consumption and the impact of fast fashion on the environment.
UPTY plans to expand out of fashion on the future and "circulate" as many
things as possible all over the world.
UPTY currently operates in Estonia, Latvia, Lithuania and Finland. This year,
UPTY has started to enter German market and has further expansion plans for
2022-2023 in France, Italy, Spain, Poland, Czech Republic, Netherlands, Sweden
and Norway.
Logo - https://mma.prnewswire.com/media/1760079/UPTY_Logo.jpg
Source: UPTY
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