In a latest development, Dutch fashion e-commerce startup Otrium has received a €7 million investment from Index Ventures to scale up internationally.
Otrium – Heads up!
Founded by Max Klijnstra, Milan Daniels in 2015, the platform offers a unique business model to help brands sell their product to the online community of fashion lovers.
To explain it more precisely, Otrium’s full-service marketplace allows fashion brands to open an online outlet with minimal effort and all the advantages. Through their platform, brands can sell both outlet collections and previous collections, where all items remain their property until they are sold.
Otrium arranges the storage, sale and shipment of the relevant collections. Fashion brands select their available stock and Otrium takes care of the rest. Otrium is the one stop solution to excess inventory in the fashion business and it allows end-consumers to get exclusive access to online stock sales of renowned and up-and-coming brands.
Largest online fashion outlet in Europe!
Index Ventures has previously made investments in companies, including Farfetch, Asos, Adyen and Net-a-Porter. Otrium will use the capital raised to accelerate international expansion.
When asked about the expansion process, “Our platform has proven to work in many markets. In most European countries members are already able to shop at Otrium. We’re currently expanding our activity in the markets that show the most potential (these include Germany, UK, France, Denmark and Sweden). Furthermore, we will constantly keep our eyes open for new markets to enter. ”
With the new investment, Otrium is taking another step closer to its current goal: becoming the leading online outlet and helping as many brands as possible with their stock challenges. The company also added, “We’re rapidly scaling our tech- and product team to keep improving and expanding our platform.”
Huge investment backup and partnerships!
The online fashion platform already has several investors, including Fred Gehring and Ludo Onnink, former CEO and CFO of Tommy Hilfiger, Adriaan Mol, founder of Mollie, and Victor Knaap, founder of MediaMonks.
Furthermore, Otrium now has more than 100 brand partnerships, including G-Star, Puma, Vans, Pepe Jeans and Scotch & Soda and the online community consists of more than 600,000 members.
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