INTURN Raises $22.5 Million
Retail marketplace startup INTURN just closed $22.5 million in Series B financing.
INTURN is the first global marketplace that efficiently and easily sells end-of-season and excess inventory to retailers in private online showrooms. INTURN’s first vertical is specifically built for fashion and apparel brands. The marketplace provides automated tools to replace what has traditionally been a manual, painstaking, error-prone process. INTURN, which is designed and led by retail industry veterans and technology experts, believes its solution provides retailers with a powerful opportunity to increase profitability.
The company revealed that the new funding comes during a period of rapid growth for the company. INTURN’s network of buyers and sellers now spans more than 40 countries worldwide, and an estimated $500 million of product is currently available on the platform ready to be sold through privately controlled offerings.