Selling luxury that’s “gently used” is a tricky business. How does the average buyer distinguish a real Chanel from a fake? The RealReal built a business by authenticating high-end designer goods before offering them for sale through its platform, putting them head-to-head with the likes of eBay and others.
The company just announced a new capital injection of $40 million in Series E funding led by Greenspring Associates, and other investors including Broadway Angels, Next Equity, and Springboard Fund. In a statement, Wainwright said The RealReal will grow globally while still offering an “easy, trustworthy, and lucrative” way to buy and sell luxury items online.