In an announcement, Earlybird Venture Capital announced the completion of US$6 million Series A funding for the first social marketplace focused on fashion, Videdressing.com. The funding came from DN Capital, Piton Capital, Generis Capital and Earlybird Venture.
The new infusion of funds would help accelerate the growth of its market share in France as well as reinforce its organization of an English version of the French fashion site.
The site was launched by Meryl Job and Renaud Gillerm providing a venue for a retail market online for fashion savvy products from New York to Paris. In the last three years, the marketplace has undergone unprecedented growth with transaction volumes of over 400,000 items from over 1,700 brands at the rate of 2,500 transactions per day.
According to Hendrik Brandis, a partner at Earlybird, "Videdressing has experienced impressive growth even before this financing round proving both the quality and the potential of the concept. As an investor we are excited to accompany Videdressing's expansion in the future."
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