French-based limited-edition sneaker re-selling platform WeTheNew has announced a €20 million capital funding round. The Series B funding round was led by C4 Ventures, along with Singular – the company’s historical investor – the investment arm of Chalhoub Group, Chalhoub Ventures & Acquisitions, and also supporting the venture is French national team soccer player Antoine Griezmann.
The funding was announced in a LinkedIn post, along with the company’s new objectives: The expansion of offerings to include non-limited edition sneakers and streetwear products, with the aim of multiplying product range by three within 18 months; and the goal of achieving 40 percent of its turnover outside of France by 2026.
Founded in 2018, according to its website WeTheNew has a team of 70 and topped the €100M turnover mark in 2022.
This is the second big funding round for second-hand sneaker platforms announced this week, with the Korean Meta[Z] platform also announcing a $1 million Series A Investment.
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