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Trenbe has raised $9.1 mln in Series B funding.

Source: Pexels

Trenbe, an eCommerce platform specializing in luxury goods, has raised KRW 11 billion ($9.1 million) in Series B financing.

The company was founded three and a half years ago and now has 2.5 million monthly active users.

The funding will be used to develop and grow the platform and expand its inventory of luxury items.

Trenbe’s platform collects information from luxury brand websites, multi-brand luxury stores, major department stores, and outlet websites.

It provides users with up-to-date information on 700,000 luxury items with prices up to 70% below store prices.

The company targets millennials and Generation Z, who are increasingly interested in luxury goods.

The luxury goods market is the only consumer market unaffected by the Covid 19 pandemic.

According to various sources, luxury goods sales increased compared to last year.

As a result, luxury brands such as Chanel, Dior, and Louis Vuitton have increased their prices by 5% to 20%.

Trenbe is not the only player in the market, as competitors Balaan, an e-commerce platform for selling luxury goods, and N.Code, a direct-to-consumer platform for luxury goods, have also made investments and expanded.

Who invested in Trenbe?

Series BJul. 2020KRW 11B
(USD 9.1M)
Aju IB Investment (KR)
LB Investment (KR)
Murex Partners (KR)
Series AOct. 2019KRW 4B
(USD 3.3M)
IMM Investment (KR)
Murex Partners (KR)
Korea Investment Partners (KR)
Series AMay. 2019KRW 1B
(USD 830k)
Korea Investment Partners (KR)
Series AApr. 2019KRW 2B
(USD 1.6M)
IMM Investment (KR)
Murex Partners (KR)