Seoul based Mine.is, the operator of fashion re-commerce platform Charan, closed a 10 billion won($7.3M) Series A funding round bringing the cumulative investment amount to 15.4 billion won.
Hashed led the investment round, joined by other notable investors such as Altos Ventures, SBVA (formerly SoftBank Ventures), DeliveryHero Ventures, and Hana Ventures.
Charan stands out as a fashion re-commerce platform specializing in the resale of secondhand clothing. Through the Charan app, customers can easily schedule pickups, after which the company takes charge of the entire process, including cleaning, photography, listing, and delivery of the products.
Users can enjoy discounts of up to 90% off the original retail prices of various luxury, contemporary, and other sought-after brands available on the Charan app.
Since its launch in August 2023, Charan has experienced significant growth under Mine.is’s stewardship. Within just eight months of its inception, the platform garnered over 200,000 users. Notably, sales in the first quarter of this year skyrocketed, marking a 4.5-fold increase compared to the same period last year. This surge represents a remarkable 9x growth since the launch month alone.
