Dressingz, a Romania-based luxury fashion resale platform, has raised €300,000 ($330,000 U.S.) in the first two weeks of a crowdfunding campaign that aims to raise a total of €500,000. According to the company, these funds will be used for product development, technological improvements, marketing and hiring.

The funding is being raised on the Rōnin crowdfunding platform, as well as through strategic investors who will contribute both money and expertise, according to information shared by the company on its LinkedIn page.

According to Dressingz, it fully automates the listing, sale and delivery of products, with luxury items priced up to 90% below their retail value. Users are not charged listing fees. Items are verified by authenticators at U.S.-based Luxury Appraisal & Authentication.

Users fill in a form, upload pictures and decide upon a price. Buyers can then make offers. When an item is sold, the seller can download a free shipping label. A courier collects the package and the seller gets their money in a maximum of five working days after delivery.

The company charges a commission that ranges from €10 for items priced at between €30 and €50 to 12% of the sale price for items priced at more than €5,000.

So far, Dressingz has formed partnerships with ten fashion brands, enabling users who buy or sell used items from these brands on the site qualify for discount vouchers. It has also run a pilot project for donations in partnership with the Red Cross.

“Our solution is a circular ecosystem, which has at its core a marketplace platform where consumers can sell and buy premium clothing items from well known brands and even collectibles, thus extending the life cycle of quality clothes,” said founder and CEO Romina Tăzlăoanu.

The ongoing funding round values the business at €3.5 million.

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