Rebag, a NYC-based platform for buying and selling luxury handbags, raised $25m in Series C funding.
The round, which brought total funding raised to $52m, was led by Novator, with participation from existing investors General Catalyst and FJ Labs.
The company intends to use the funds to accelerate retail expansion plans, to scal its technology and product team to further refine its proprietary pricing and luxury handbag evaluation tools, and to attract talent and bolster its leadership team.
Led by founder and CEO Charles Gorra, CTO Jay Winters and CMO Elizabeth Layne, Rebag provides a platform for buying and selling luxury handbags. It allows shoppers to access thousands of designer handbags, available online or at one of Rebag’s retail locations. The digitally-native brand currently operates five “Handbag Heavens” in NYC and LA and plans to increase that portfolio to 30 in the medium term. The retail presence will include both standalone stores, as well as presence in major luxury malls.
The company also recently launched Rebag Infinity, which allows shoppers to carry a Rebag bag for up to six months and exchange it for credit worth at least 70% of its original purchase price.