, the London-based start-up on a mission to merge resale with fintech, has raised $35 million in a Series A financing round.
The investment round was led by fintech specialist Fasanara Capital and was also supported by a group of “undisclosed strategic investors,” which according to the company, include current and former executives from LVMH Moët Hennessy Louis Vuitton, Valentino, Balmain, Tod’s, Swarovski, L’Oréal, Barclays, Goldman Sachs and Scalepay.
Francesco Filia, chief executive officer at Fasanara Capital, said they were drawn to the company’s rapid growth rate since launching last summer and its “circular economy mission.”Since launching in July 2021, Twig said it has had up to 100,000 monthly downloads and was featured in the sixth position in Apple’s top finance apps.
The company plans to use the money from the fund raise to spearhead its expansion plans across Europe and the U.S. throughout 2022, as well as introduce new products.