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Taiwanese resale platform PopChill raises US$2.2m

YarnsandFibers News Bureau 2022-01-20 09:13:10 – Taiwan

Taiwan-based sustainable fashion e-commerce marketplace, PopChill, announced the closing of a $2.2 million Pre-Series A round of funding.

The round was led by AppWorks, which also included CTBC Venture Capital, B Current Impact Investment, and Taiwan Culture and Creative Angels Investment.

PopChill will use this amount of funding to strengthen its fundamental business strategy, allowing it to better satisfy the demands of fashion consumers and sellers, accelerate user acquisition, and break-even within two years of debut.

The firm will also concentrate on Taiwan's thriving fashion e-commerce business. It also intends to become Asia's largest sustainable secondhand clothes e-commerce site.

Andy Kuo, PopChill's Co-Founder, said that they believe in a more sustainable future for fashion—where clothing can be repurposed and they can move away from the wastefulness that has marked the fast-fashion era—and they want to help more people look good while also doing good. Through their community, they're introducing the circular economy to the world of fashion, delivering economic value to customers while supporting more sustainable fashion practices.

Kuo and PopChill Co-Founder Kelly Liao are seasoned entrepreneurs with a string of successful exits under their belts, including KuoBrothers, one of the fastest e-commerce companies to go public (IPO).

PopChill, their most recent venture, was launched in January 2022 with the goal of creating a sustainable community marketplace where users may buy and sell secondhand fashion and apparel, such as clothing, shoes, bags, and accessories.

Buyers can explore intriguing outfits and designs and make purchases on the site thanks to PopChill's user-friendly interface, supporting sustainability in the clothing industry and allowing consumers to get high-quality fashion and gear on a budget. With PopChill, consumers can repurpose clothing that would otherwise languish in closets or be tossed.

Sellers can submit content and establish a community following by focusing on user-generated content, making it easier to contact potential buyers and determine their own price. PopChill has hired over 500 sellers and has 10,000 items available for purchase as part of the platform launch, laying a strong basis for the first wave of users who will gradually spread across Southeast Asia.

Sellers do not have to pay to upload their products. PopChill, which began with women's fashion, is now open to users by invitation only, with 8,000 initial sign-ups, and hopes to extend to the general public in the near future.

Recognizing the enormous potential for the fashion industry to implement a circular economy model, Kuo and Liao founded PopChill with the goal of achieving greater sustainability through second-hand fashion and apparel, particularly as more young adults place a higher value on environmental and social impact in their lifestyles and consumer choices.

Nice Cheng, Partner of AppWorks, said that they’re ecstatic to be supporting Andy and Kelly in their latest endeavor to revolutionize the fashion business. They’re excited to support the PopChill team in this endeavor. With their investment focus on backing exceptional founders paired with PopChill's strong emphasis on sustainability and new economic models, we are excited to support the PopChill team in this endeavor.

AppWorks is a startup community and venture capital firm founded by founders for entrepreneurs, and it was founded in 2009. It is committed to supporting the next generation of entrepreneurs in Greater Southeast Asia (ASEAN+Taiwan) and assisting them in facilitating the region's digital transformation.

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