Thrifting start-up will use the funding to further scale in the UAE and complete its full launch in KSA
Dubai, United Arab Emirates
Bazaara, the innovative resale fashion app that enables users to buy and sell pre-loved fashion items and accessories directly from other users, announced today that it has successfully raised US$230,000 in its pre-seed round led by Flat6Labs UAE, with participation from several angel investors.
Bazaara aims to revolutionize the way people shop for fashion by creating a sustainable and community-driven platform that allows users to earn money from recycling their wardrobe items. Since its launch in 2021, Bazaara has established itself as the largest peer-to-peer resale fashion app in the UAE, boasting an impressive base of approximately 20,000 users. To date, the platform has accumulated over 25,000 listings, with a combined value of more than $1.5 million.
“This new round of funding is an exciting milestone for Bazaara as we build on our early success and expand our platform’s reach across the GCC. With a full launch in KSA planned for 2023, we aim to provide an even more seamless and sustainable way for our user base to thrift shop. The investment is a testament to the organic growth we have achieved so far and the potential for further expansion. We are thrilled to continue on this journey and provide more value to our users in the region,” said Alyssa Mariano, CEO and Co-founder of Bazaara.
Bazaara’s appeal spans across different audiences who are passionate about thrifting for its sustainability, affordability, and creative expression. This has led to up to an average month-on-month growth rate of 70% and an increasing popularity of the platform.
Bazaara has simplified users’ buying and selling process, with a courier automatically dispatched to collect and deliver sold items and earnings deposited directly into the seller’s account. The app is free to use, with a small transaction fee added on top of seller’s profit for each sale. Users also enjoy the excitement of discovering rare, unique, and vintage one-of-a-kind pieces that cannot be found elsewhere.
“At Flat6Labs, we are always looking for innovative startups that have the potential to make a positive impact on the world. Bazaara’s community-based platform is doing just that by promoting sustainable practices in the fashion industry. With a rapidly growing user base, Bazaara is not only tapping into the increasing demand for sustainable fashion options but also creating a community-driven marketplace that connects buyers and sellers in a unique way. We are thrilled to support Bazaara’s growth and mission to create a more sustainable future for fashion.” says Ryaan Sharif, General Manager at Flat6Labs, UAE.
The Bazaara app is available for download free of charge on both the iOS App Store and Google Play store in both the UAE and KSA.
