Tallinn-based fashion tech startup Yaga, a marketplace for secondhand fashion, has raised €4 million in a pre-Series A funding round led by Specialist VC, bringing its total funding to €7.2 million.
- Founded in 2017 by Aune Aunapuu and Karl Erik Kotkas, Yaga is an online marketplace for secondhand fashion, enabling users to buy and sell clothing, shoes, accessories, and other fashion-related items.
- The platform uses secure payment systems and partners with logistics providers to ensure safe delivery between sellers and buyers. YAGA manages a digital catalog of over 3 million items across multiple categories, tracking user accounts, listings, and transactions to efficiently manage inventory and sales.
- Operating primarily in South Africa and Estonia, the platform has over 1 million registered users and processes more than 100,000 transactions per month.
- In 2022, the firm secured a €2.3 million seed funding round, supporting its growth and increasing GMV from €11 million to €27 million by May 2024, with further expansion planned.
Details of the deal
- The fresh capital also saw participation from H&M Group Ventures, Trind Ventures, Startup Wise Guys, and a group of angel investors.
- Yaga will use its €4 million pre-Series A funding to expand into new markets, particularly the Middle East and North Africa, enhance its platform with improved features like secure payments and logistics, and grow its team to support operations and market expansion.
