Thriftify, an online marketplace made especially for charities has secured €1.6m in funding in a round led by HBAN Impact Syndicate. This investment will help the company expand further into the UK, and they plan to create twenty new jobs with a focus in marketing and sales.
You don’t have to go far down a UK high street to bump into a charity shop, where you can probably find just about anything from weird to wonderful. In a year, they can raise £300m for good causes in the UK making them vital.
Investment in impact driven companies is hard to come by, so this investment is a major boost not only to us, but to all entrepreneurs and companies whose priority is a sustainable, impactful future. As a team, we’re absolutely thrilled to have the resources we need to fundamentally change the fashion industry.
– Rónán Ó Dálaigh, CEO, Thriftify
When the world faced ‘a series of unfortunate events’ throwing our high streets into turmoil, charity shops also felt the pressure. The desire to set up online, and the continued support for charity shopping is why platforms like Thriftify are finding success in the UK. The platform which launched in the UK during 2021, is making it easier for charities to continue raising money for good causes, whilst expanding their reach nationally through a digital channel.
Another key reason why we should take notice of marketplaces like Thriftify is the consumer desire for second-hand clothing. As living sustainably became a core value for many, people began opting for used clothing over fast fashion. The fact that Thriftify has grown around 300% every year since launching a few years back, is evidence of this.
If you’re a charity retailer you can check out how to sell on Thriftify here.
