SAN FRANCISCO, July 19, 2021 (GLOBE NEWSWIRE) -- As the secondhand resale economy keeps booming post-pandemic, Flyp announced that it has raised $3.2 million USD to support secondhand gig economy workers.
Flyp has developed the largest decentralized consignment marketplace in the world, enabling thousands of individual resellers to grow and sustain their businesses from home. With this new funding, Flyp intends to expand their offerings to empower the wider reseller community.
The $3.2 Million round was led by Next View, the venture capital firm that also backed ThredUp at seed stage. The round saw the participation of existing investors in addition to new firms including Afore, BAM Ventures, Interlace, and Alante Capital. Flyp has reported that independent resellers have made more than $1,000,000 in secondhand sales during the pandemic.
James Kawas, CEO of Flyp, outspokenly advocates for the reseller economy: "Everyone these days seems to be talking about how great the secondhand economy is, all the brands want in on it, IPOs are happening right and left. Yet, no one is talking about the secondhand gig economy, the hundreds of thousands individuals, predominantly women, who resell used clothing for a living. At Flyp we think that resellers are the most inspiring and impactful group of small entrepreneurs in America today, they represent a living example of sustainable capitalism that we can all learn from. This is why Flyp is fully committed to supporting this community in every way possible."
Reselling used goods online has been on the rise for the last decade. With the rise of marketplaces like Poshmark, Mercari, and Facebook marketplace, getting ahold of gently used clothes and reselling it for profit online has become one of the fastest growing side hustles. "Flyp is here to make it easier for more people to become resellers," says Dani Arnaout, CTO & co-founder of Flyp, affirming that the new funding will go towards expanding the consignment marketplace and developing new software tools to give small resellers the power to effortlessly automate and streamline their at-home resale operation.
Contact: Nancy Brighton, Editor