Retail Startup Rebag Announces $25 Million in Series C
Rebag, a retail startup featuring both an online platform and brick-and-mortar locations for buying and selling luxury handbags, acquired $25 million in a Series C funding round led by private equity firm Novator. This round, which included existing investors General Catalyst and FJ Labs, brings the company’s total funding to $52 million.
Rebag’s goal is to revolutionize luxury handbag resale with a transparent, instantaneous resale process featuring upfront payment. Shoppers can access thousands of designer handbags available online or at one of Rebag’s retail locations. The company’s recent offering, Rebag Infinity, allows shoppers to carry a Rebag bag for up to six months and exchange it for credit worth seventy percent of its original purchase price.