Our portfolio company Yaga, the fast-growing online marketplace for secondhand fashion, has raised €4m in a pre-Series A funding round. We participated in the round together with Specialist VC, H&M Group, Startup Wise Guys, and a group of angel investors.
Resale platforms are no longer niche – they’re becoming mainstream shopping destinations. The global second-hand apparel market grew by about 15% in 2024, reaching $227 billion, and is forecast to reach $367 billion by 2029*. Yaga is at the centre of this global shift.
Over recent years, Yaga has doubled in size annually, reaching a €50m+ GMV run rate. The company is now profitable and has achieved this scale with a 25-person team and just €3.2m raised prior to this round, showing the efficiency of its model alongside strong market demand. Yaga has built a particularly strong presence in South Africa, where it has become the leading online fashion resale platform. Globally, sellers have earned more than €80 million to date, and more than 6 million items have found new owners, extending their life and reducing textile waste.
Secondhand fashion is no longer a niche – it’s becoming the first choice for millions of people who want both affordability and sustainability. Our growth in South Africa proves that this is a global movement, not limited to Europe or the US. With this funding, we will explore new expansion opportunities as we continue to build the sustainable fashion marketplace of the future.
Aune Aunapuu, CEO and founder of Yaga
Yaga’s platform is designed to be safe and user-friendly, offering an escrow-based payment system and localised logistics to protect buyers and sellers. Items are typically 50-80% cheaper than new, making fashion more accessible while helping reduce the industry’s environmental footprint.
With the new funding, Yaga is exploring expansion opportunities primarily in the Middle East and North Africa region. The funding will also support further team growth and the development of existing markets.