FashionPlaytes, Inc., a Salem, MA company operating a web site that allows girls (ages 5-12) be fashion designers and create a line of clothing they can wear, has raised $4m in Series A financing.
The round was led by Fairhaven Capital Partners, with participation from existing investors New Atlantic Ventures, Launch Capital, and Golden Seeds.
FashionPlaytes launched in 2009 with an initial round of $1.8m and this new capital brings the total amount raised to date to $5.8m.
The company will use the new funds to accelerate product development and expand its customer base. On the web site girls can create their own jean jackets, dresses, tees, hoodies and more from over 5 million possible design combinations.
In conjunction with the financing, Rudina Seseri of Fairhaven Capital will join FashionPlaytes’ board of directors.