<article>London and Singapore-based circular fashion startup Reflaunt has raised $5.2 million in fresh funding as part of a Series A round, according to regulatory filings seen by <a href="https://data.dealstreetasia.com/app/company/201819230E">DealStreetAsia &#8211; DATA VANTAGE</a>.</article>

London and Singapore-based circular fashion startup Reflaunt has raised $5.2 million in fresh funding as part of a Series A round, according to regulatory filings seen by <a href="https://data.dealstreetasia.com/app/company/201819230E">DealStreetAsia &#8211; DATA VANTAGE</a>.
The largest contributors to its Series A round were Zurich-headquartered growth investor Bombyx Capital Partners ($3 million) and Shanghai-based Ventech China ($2 million), both new investors in the firm, show Reflaunt&#8217;s filings with Singapore&#8217;s Accounting and Corporate Regulatory Authority (ACRA). Luxembourg-based TLF Ventures provided the remaining $200,000.
The resale-as-a-service startup also issued Series A shares to simple agreement for future equity (SAFE) investors and convertible noteholders worth an additional $3.74 million. The recipients include Dubai-headquartered FK Group, Amsterdam-based Fashion For Good, luxury fashion distributor MadaLuxe Group and former Jimmy Choo CEO Pierre Denis.
The latest funding brings Reflaunt&#8217;s valuation to $33 million.
ACRA filings reflect the equity funding secured by a company so far. The round could be larger and have other components such as debt.
DealStreetAsia has reached out to the company for comment.
Reflaunt was founded by Stephanie Crespin, Philippe Benedetti and Felix Winckler in 2017. It provides luxury brands with the technology and support to source their customers&#8217; past purchases for resale on their e-commerce platforms.
Crespin, who is the company&#8217;s CEO, is also the co-founder of StyleTribute, a pre-loved luxury fashion marketplace in Southeast Asia. Prior to this, she spent four years at Procter &amp; Gamble (P&amp;G) in Belgium and Romania, where she last held the position of senior brand manager for hair care brands such as Pantene.
The global attention towards sustainable and circular fashion startups has risen in recent years, as consumers begin to demand greater transparency and interest in environmental issues like global warming and waste.
According to the Fashion Sustainability Report 2021 by Fashion Revolution Singapore, the fashion industry accounts for 20-35% of microplastic flows ending in the ocean. It also outweighed the carbon footprint of international flights and maritime shipping combined in 2015. Overall, the fashion industry was estimated to constitute 10% of carbon emissions emitted globally.

Circular fashion startup Reflaunt has raised $8.9 million in fresh funds pegging the firm at a valuation of $41.2 million, according to recent filings on Singapore's Accounting and Corporate and Regulatory Authority (Acra). 

Circular fashion startup Reflaunt raises $5.2m in fresh funding

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Circular fashion startup Reflaunt raises $5.2m in fresh funding

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