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October 26, 2021updated 27 Oct 2021 8:27am

Vopero secures $7.5m investment from Grupo Axo and thredUP

Vopero is a full-service fashion resale marketplace that caters to Latin American consumers.

Vopero has secured investment from multi-channel and multi-brand operator Grupo Axo and online resale platform thredUP.

The Latin American full-service fashion resale marketplace firm received a total of $7.5m from the two companies.

Launched in November 2020 in Uruguay, Vopero offers a convenient and sustainable experience when buying and selling second-hand clothing online.

The company has more than 3,000 independent sellers and retail stores on the platform and processes more than 80,000 second-hand products since its launch.

In April this year, Vopero expanded to Mexico and plans to enter other Latin American markets, including Brazil and Colombia.

The company will leverage proceeds from the funding to facilitate these expansions plans. It will also optimise its resale platform through digital technology.

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Vopero CEO Alejandro Esperanza said: “In less than a year since our launch, the market response has been incredible. It is clear to us that the Mexican and Latin American consumer has a strong desire to access the best fashion brands without sacrificing sustainability.

“We are proud to have created a digital platform that meets this second-hand demand, supported by infrastructure that powers convenience and value for our customers with triple impact, creating a unique experience.

“Together with Grupo Axo and thredUP, we share a collective vision of making second-hand mainstream. We are thrilled to leverage their invaluable partnership and expertise as we scale Vopero and transform the future of sustainable fashion in Latin America.”

In addition to Grupo Axo and thredUP, Vopero received additional investment from Jaguar Ventures, Luxor Capital, and Maria Raga (CEO, Depop) among others.