March 28th 2019
REDWOOD VENTURES LEADS THE INVESTMENT ROUND THAT POTENTIALS THE GROWTH OF THE COMPANY TROQUER
The venture capital fund Redwood Ventures founded in the digital capital of Mexico announces today its investment in Troquer. Focused on technology-based companies, Redwood adds to its portfolio the pioneer and leading platform in Mexico for sustainable fashion.
The start-up attracts the fund due to its innovative and solid proposal, accompanied with great traction. Leveraged by artificial intelligence, the omnichannel company connects sellers seeking to monetize their used items with buyers interested in acquiring quality fashion in an intelligent, conscious way and under a unique experience. Founded by Lucía Martínez-Ostos and Ytzia Belausteguigoitia, the company has close to 2 million users, grows by more than 200% its transactional volume and operates with unit economics superior to its industry.
The rise of Troquer in the retail market evidences the disruption of collaborative and circular models in the transformation of the industry. The value of the second-hand fashion market is estimated at USD $40B for the year 2022. The positioning that Troquer has demonstrated is reflected in the closing of a capital round of USD 600k led by Redwood Ventures. The resources of this investment will be used to amplify its commercial strategy and to continue its technological development, thus strengthening the generation of value for the end user. With this, Troquer will continue working to become the best marketplace for buying and selling pre-loved and authenticated items in LATAM.
"Troquer is a sample of how the talent and vision of two entrepreneurs can build a disruptive, high impact and highly scalable company. We are proud to join the history of this platform and are confident that it will be another successful company in our portfolio" mentioned Alejandro González, MD of the fund.
RedWood Ventures, the Venture Capital fund, started investments in March 2018 and since then it has been an active agent in the detection of disruptive companies adding to its portfolio, among which are Ares Materials, Billpocket, Gurú de Viaje, Yotepresto and now Troquer . With this investment, the fund reaffirms its leadership in the ecosystem by making investments in start-ups with a technological base and great scalability.