London-based sneaker marketplace, Laced, has successfully raised £10 million/€11.2 million in a Series A funding round. The company’s mission is to address the issue of exclusive drops and bots dominating the market, by offering fair access to in-demand products. Leading the funding round was Talis Capital, an early-stage investment firm based in London, which had also previously participated in Laced’s seed funding. H&M Group Ventures, along with existing investors, also invested in the company.
Laced’s innovative technology connects buyers and sellers of rare and exclusive sneakers, as well as other luxury goods. The platform prides itself on providing an easy-to-use, secure, and transparent service. It offers various features such as authentication, same-day order processing, deliveries throughout the week, and faster payment for sellers compared to other marketplaces. Authenticity is particularly crucial in a market where counterfeit sneaker sales are prevalent.
Having raised a total of €15.8 million through this funding round, Laced plans to utilize the funds to expand and enhance its technology and product offerings. The company has already achieved a platform general merchandise value of €93 million. CEO Chris Gibbons, who founded Laced five years ago, believes that luxury goods should be accessible to everyone. The company’s ultimate goal is to democratize access to these products within a safe and secure environment.
Talis Capital was particularly drawn to Laced due to its unconventional approach and potential to redefine the industry. Nanna Andersen, Head of New Growth & Ventures at H&M Group, praised Laced for not only providing consumers with the products they desire but also for extending the lifecycle of these products through their platform.
Through its commitment to providing fair access and combatting counterfeits, Laced aims to revolutionize the sneaker marketplace. With the recent funding, the company is well-positioned for future growth and innovation within the industry.
Useful links:
1. Laced official website
2. Talis Capital official website
