UK-based sneaker resale platform Laced has secured $12 million in Series A funding on the same day it unveiled its new visual identity. The e-commerce site features the latest collections from several well-known brands, including Nike, Jordan, Adidas and New Balance. Founded in London in 2018, Laced facilitates the sale of sneakers between sellers and buyers. Sellers can be individuals looking to sell hard-to-find sneakers for a profit after purchasing them from the original brand or professional sellers dedicated to finding coveted shoes in bulk. The seller sets a price without an auction element, and the shoes are then placed in a queue where the lowest price takes precedence to encourage sellers to list their goods at a reasonable price. Laced offers industry-leading product authentication, same-day order fulfillment, seven-day-a-week deliveries and same-day post-sale payouts.
The platform, which also functions as a social community, sought new investors to further develop and expand its technology and product line. The company has raised a total of over $17 million to date. The latest investment round was led by early-stage investment firm Talis Capital, which already led Laced’s seed round, and H&M Group Ventures, which reportedly provided a large portion of the investment.
