New-Off Gets Seed Investment for Secondhand Clothing Service

Seoul, South Korea - New-Off, a South Korean secondhand clothing purchase service, said Tuesday it raised seed funding from venture capital firm FuturePlay. 

The company did not disclose the amount of funding.

NewOff operates a service that collects clothing from customers' homes and provides cash settlements within three days. 

The company conducts individual inspections by garment model and uses a pricing algorithm based on inspection data from over 100,000 items.

The Seoul-based company, founded in 2025, said it resells acquired clothing through its shopping platform, third-party marketplaces, and offline markets. 

NewOff said its service addresses what it described as complexities in traditional secondhand clothing transactions and limitations of conventional used clothing collection methods.

"Our goal is to create a circulation structure where anyone can sell and purchase unwanted clothes without hesitation in the clothing sector, which has complex procedures among secondhand transactions, "the CEO of NewOff said. 

The company said it plans to use the investment to strengthen its inspection capabilities, expand its purchase centers, and launch a mobile application by year-end.

NewOff said its algorithm evaluates individual clothing items to determine purchase prices. 

The company said this provides what it characterized as a more reliable alternative to uncertain secondhand trading platforms.

The company said it recently launched its clothing purchase application and is expanding service coverage nationwide. 

NewOff operates multiple sales channels, including its proprietary platform, smart stores on open marketplaces, and offline secondhand clothing markets.