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Startup Otrium closed its second seed round, raising a total of €600.000. The Amsterdam based e-tailer offers its users exclusive access to sample sales of high-end fashion brands. The young founders of Otrium, Max Klijnstra (25) and Milan Daniels (24), already raised €200.000 earlier this year. With this new investment round, they have raised a total of €800.000 within just nine months.
Exclusive fashion, ordered from home
Otrium gives its members access to private sales where exclusive fashion brands from all over the world can sell their rare sample collection. The startup sells clothes for Oger, Fabienne Chapot, Love Stories, Superga and more. Purchases are being shipped straight from the warehouse of the fashion label, Otrium handles the sales and payment. This allows Otrium members to obtain exclusive fashion items without having to travel the world to get them.
Solution for inventory
At the same time it offers the fashion industry an attractive and easy solution for their inventory. “Nearly every fashion brand struggles with an abundance of excess inventory; too often beautiful items are just left to collect dust in warehouses”, says Milan Daniels, founder of Otrium. “We are the first e-commerce platform that offers a promising solution. Fashion brands are now able to sell their excess stock directly to a vast community, whilst fashion lovers will be able to take advantage of attractive markdowns. The brands ship all orders directly from their warehouse in order to ensure quick delivery whilst securing high profit margins for the fashion brands.”
Otrium going abroad
According to Otrium, the marketplace is growing consistently with a month-over-month growth of over 10.000 members and new brands are signing up to the platform every week. On the wave of this new investment, the Dutch duo is looking to expand their reach and accelerate the growth of their marketplace for stock sales. That’s where the new investment comes in handy. Otrium wishes to expand their business abroad. Otrium is currently only operating in The Netherlands – they do also ship to Belgium – but the young founders already have their eyes set on bringing in a total of 300 international brands within the next two years.
Led by Keadyn
The new investment was led by the investment firm Keadyn, and it comes after earlier investments from Venture Fathers, consisting of previous founders of Funda, Media Monks and Albelli. Martijn Don of Keadyn: “Otrium is thé new contender in terms of online fashion stock sales. The founders Max Klijnstra and Milan Daniels obtained unbelievable results in the course of barely 9 months.” Keadyn also invested in startups as Daalder, Monyq and Notificare.