French start-up Patatam has raised 7 million euros in a new funding round, with Quadia, Creas and Colam Impact joining the company’s shareholder roster. Founded in 2013 by Eric Gagnaire, Mariève Bidart and Mathieu Bidart, Patatam specializes in collecting second-hand clothing from individuals and reselling it through partnerships with fashion brands. The start-up already has many partnerships with major brands such as Kiabi, Gemo, Carrefour, Auchan, Leclerc and Cora.
With this third funding round, Patatam aims to increase the number of clothes shipped per month from 200,000 to 750,000 and accelerate its expansion across Europe, which has already begun with a first corner in Belgium.
Quadia is a Swiss private equity firm that invests in sustainable projects and companies. Creas is a French investment firm that supports companies with strong social and environmental impact. Colam Impact is a French investment fund that invests in impact-focused companies.
This latest funding round brings the total raised by Patatam to 11 million euros. The previous round in 2018 raised 3.7 million euros. Patatam is a key player in the second-hand clothing market in France, which is growing rapidly due to increasing awareness of the environmental impact of fast fashion. The company aims to make second-hand clothing more accessible and affordable to all, while also promoting sustainable consumption.
The new funding will allow Patatam to expand its business and increase its impact, while also helping to promote sustainable and responsible consumption in the fashion industry.