Online Fashion Outlet Otrium Raises 120 Million Ahead of US Launch BoF

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Online Fashion Outlet Otrium Raises 120 Million Ahead of US Launch BoF

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Amsterdam's Otrium snags €24 million to expand fashion marketplace that sells excess inventory. Amsterdam-based Otrium, an online fashion marketplace that aims to move unsold clothing at the end of the season, has raised €24 million in Series B funding to fuel further international expansion. The round was led by Eight Roads Ventures.

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Today Otrium, the end-to-end marketplace for end-of-season fashion, has announced an approx. € 102.3 million Series C funding round, its US launch and the introduction of new capabilities aimed at reducing unsold fashion in the future. Otrium has also revealed that revenues have tripled in 2020, its registered members surpassed 3 million, and it now has over 300 fashion stores on its app.

Amsterdam's Otrium snags €24 million to expand fashion marketplace that sells excess inventory

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Otrium, a European-based e-commerce option for designer clothing overstocks is expanding in this country, and could become a new, digitally native competitor to T.J. Maxx, Nordstrom Rack JWN 0.0%.

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Amsterdam-based fashion e-commerce startup Otrium has raised $120M (approx €102.27M) in a Series C round of funding. In addition, the company has also announced its launch in the US and aims at reducing unsold fashion in the future. Investors and the use of new funds

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Otrium is the world's most innovative end-to-end platform for outlet fashion, driven by a mission to eliminate fashion waste and maximize recovery value for unsold items. Founded in 2017 in Amsterdam by Milan Daniels and Max Klijnstra, Otrium seamlessly connects a global community of 5 million members to excess stock from leading brands.

After tripling its revenue in 2020, Amsterdambased fashion startup Otrium raises €

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Amsterdam, March 31, 2021 - Otrium, the end-to-end marketplace for end-of-season fashion, has announced $120 million Series C funding, its US launch and the introduction of new capabilities aimed at reducing unsold fashion in the future.Otrium has also revealed that revenues have tripled in 2020, Otrium's registered members surpassed 3 million, and it now has over 300 fashion stores on its app.