Otrium, an Amsterdam, The Netherlands-based online fashion outlet, raised €7m in Series A funding.
The round was led by Index Ventures. In conjunction with the funding, Danny Rimer, a partner at Index Ventures, joined Otrium’s board.
The company intends to use the funds to grow its international presence and brand partnerships.
Founded in 2016 by Milan Daniels and Max Klijnstra, Otrium has developed its own model for selling excess inventory. It now has over 100 brand partnerships including up-and-coming designers and global names, such as G-Star, Puma, Vans, Pepe Jeans and Scotch & Soda. More than 600,000 shoppers are subscribed to buy on the platform.