Rebagg, a NYC-based luxury goods reseller, secured $15.5M in Series B funding.
The round was led by General Catalyst and Novator with participation from FJ Labs (the holding company of Fabrice Grinda and Jose Marin), Crosslink Capital, Big Sur Ventures-Necotium, Kloof Capital and U-Start. In conjunction with the funding, Birgir Ragnarson, Partner at Novator, will join Rebagg’s Board of Directors.
The company, which has raised raised $28M to-date, intends to use the funds to scale operations, in particular by making key hires, further developing its resale pricing technology as well as continuing to promote the Rebagg brand and to grow its sourcing network across geographies.
Led by Charles Gorra, CEO, Rebagg is a resale service for pre-owned luxury goods. Users can submit pictures on www.rebagg.com or the Rebagg app to receive a free and guaranteed quote within one business day. The company offers complimentary pickups in NYC, and free shipping boxes across the US. Sellers receive payment within 1-2 business days of receipt.
All handbags are thoroughly checked for authentication and quality. The curated selection is resold at a significant discount on www.trendlee.com, the luxury e-commerce site operated by the company.
Rebagg employs a team of 45.