All the fundraising deals in the resale market (from Q1 2025 to Q1 2026)
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The resale market raised about $269 million across 15 qualifying rounds between Q1 2025 and Q1 2026.
Most of that capital was concentrated in just a few large deals, while the majority of startups raised modest rounds below $10 million.
Europe was the most consistent geography for deal activity, producing more qualifying rounds than any other region during this period.
And if you want to better understand this new industry, you can download our pitch covering the resale market.
Insights
- Kavak alone captured 47% of all resale market funding raised between Q1 2025 and Q1 2026, which shows how lopsided resale investment really is: one used-car giant and then everyone else.
- Europe generated more qualifying resale market deals than any other region, with 7 out of 15 rounds going to European-founded or Europe-first companies, from Speeral to Minimist.
- Refurbished electronics was the strongest consumer segment in the resale market after used cars, pulling in $73.9 million across just 3 deals, which signals investor preference for standardized, warranty-backed resale categories.
- Brand resale software attracted $48.1 million across 4 deals, meaning investors are betting heavily on the plumbing of the resale market, not just the storefronts.
- 11 of the 15 resale market rounds were below $10 million, which means the sector is still largely populated by capital-efficient early-stage companies rather than hypergrowth bets.
- Every named lead investor appeared in only one deal across the full period, which suggests there is no dominant VC club driving the resale market, making it unusually fragmented on the investor side.
- Q2 2025 was the only quarter with both scale and breadth in the resale market, combining the $127 million Kavak round with four other mid-market deals closing simultaneously.
- The average deal size in the resale market drops to roughly $5.5 million if you remove Kavak and Refurbed, showing how the underlying market is still primarily small-check territory.
- Asia produced two qualifying resale market deals in Q3 2025 alone, with PopChill in Hong Kong and Grest in India, signaling that resale infrastructure is maturing beyond North America and Europe.
- Q1 2026 saw only one qualifying deal in the resale market, a $1.1 million pre-seed for Minimist, which may reflect early-year seasonality in deal announcements rather than a structural slowdown.
In our resale market deck, we will give you useful market maps and grids
Summary table of the funding deals in the resale market (last 5 quarters)
We define the resale market as all sales of products that come back into the market after already being bought once by a consumer.
We include peer-to-peer secondhand sales, consignment and vintage shops, charity/thrift stores, brand or retailer pre-owned programs, and refurbished or open-box goods that were previously owned or used.
We exclude sales of brand-new overstock in outlets or off-price channels, purely B2B liquidation of new inventory, and non-ownership models such as rental, subscriptions, and sharing platforms.
You can also read our detailed analysis to understand how funding activity in the resale market has evolved over the last few years.
Also, you should know that we have a dedicated page, updated weekly, with all the latest fundraising deals in the resale market.
| Name | What they do | Amount | Quarter | Source(s) |
|---|---|---|---|---|
| Archive | Software that lets brands launch and run their own secondhand storefronts and trade-in programs. | $30.0M | Q1 2025 | TechCrunch |
| Speeral | French platform that connects brands and retailers to secondhand and refurbishment channels. | $1.87M | Q1 2025 | The Fashion Law |
| Bought | Finnish secondhand fashion marketplace that uses AI to make listing used clothes much easier. | $1.5M | Q1 2025 | ain.ua |
| Faume | White-label resale technology for premium and luxury brands to launch branded secondhand programs. | $8.8M | Q2 2025 | EU-Startups |
| Kavak | Latin American marketplace for certified pre-owned cars with inspection, financing, and retail operations. | $127.0M | Q2 2025 | Bloomberg |
| AptDeco | U.S. peer-to-peer marketplace for used furniture with pickup, delivery, and scheduling built in. | $5.84M | Q2 2025 | CB Insights |
| Brandback | Embeds resale directly into retailers' checkout flows so consumers can see the future value of what they buy. | $7.4M | Q2 2025 | Tech.eu |
| Renow | Helps European retailers inspect, grade, and resell returned and secondhand products using AI. | $2.0M | Q2 2025 | Tech.eu |
| PopChill | Luxury resale marketplace for authenticated secondhand designer bags and fashion in Taiwan and Hong Kong. | $3.0M | Q3 2025 | Yahoo Finance |
| Grest | Indian full-stack recommerce company for used electronics with refurbishment and retail operations. | $1.9M | Q3 2025 | Entrackr |
| SECONDSENSE | U.S. search and data platform for secondhand luxury handbags, focused on pricing transparency. | $2.0M | Q3 2025 | PR Newswire |
| Yaga | Social marketplace for secondhand fashion with strong roots in South Africa and expansion into MENA. | $4.6M | Q4 2025 | EU-Startups |
| Refurbed | European marketplace for professionally refurbished electronics and household items, sold with warranties. | $55.0M | Q4 2025 | EU-Startups |
| Revibe | MENA marketplace for refurbished electronics with guarantees, targeting the Gulf and emerging markets. | $17.0M | Q4 2025 | Wamda |
| Minimist | AI listing engine for secondhand retailers that turns a single photo into a marketplace-ready product listing. | $1.1M | Q1 2026 | EU-Startups |
In our resale market deck, we identify pain points entrepreneurs should prioritize
How has funding activity in the resale market changed over time?
Q2 2025 was by far the most active quarter for the resale market, generating $151 million across 5 deals, though the result is heavily shaped by Kavak's $127 million equity round, which alone represented 84% of Q2's total.
Q1 2026 was the quietest quarter of the period, with just one qualifying deal closed, though this likely reflects early-year seasonality rather than a structural pullback in resale market investment.
Compared to Q4 2025, Q1 2026 saw a 99% drop in total capital raised in the resale market; compared to Q1 2025 one year earlier, Q1 2026 raised 97% less, though both comparisons are distorted by the single-deal nature of Q1 2026.
If you strip out Kavak in Q2 2025 and Refurbed in Q4 2025, the underlying resale market shows a fairly steady flow of smaller deals in the $1.5 million to $9 million range, suggesting the base-level activity is consistent even if headline numbers swing dramatically based on one or two outliers per quarter.
| Quarter | Number of deals | Total raised | Comment |
|---|---|---|---|
| Q1 2025 | 3 | $33.4M | Driven by Archive's $30M Series B; two small pre-seed deals filled out the quarter. |
| Q2 2025 | 5 | $151.0M | Peak quarter, with Kavak's $127M round dominating but four other deals adding real breadth. |
| Q3 2025 | 3 | $6.9M | Quieter quarter with three small deals; no mega-round to boost totals. |
| Q4 2025 | 3 | $76.6M | Refurbed's $55M round drove the quarter; Revibe and Yaga added solid mid-market activity. |
| Q1 2026 | 1 | $1.1M | Single early-stage deal; likely reflects seasonal slowness in deal announcements. |
| All quarters | 15 | $269.0M | Strong total, but top 2 deals (Kavak + Refurbed) account for 68% of all capital raised. |
In our resale market deck, we identify repeatable patterns you can use if you’re building in this market
Which startups in the resale market raised the largest rounds over the last months?
These startups raised the most recently in the resale market:
- Kavak raised $127 million to shore up liquidity after a difficult used-car financing environment, while keeping its inspection, financing, and inventory model running across Latin America.
- Refurbed raised $55 million after reaching profitability, using the capital to accelerate its UK expansion and widen its product categories across Europe.
- Archive raised $30 million to scale its resale-intelligence platform and help brands turn secondhand into a real profit center rather than a side project.
- Revibe raised $17 million to upgrade quality control and speed up its expansion across the Gulf and other emerging markets where refurbished electronics demand is rising fast.
- Faume raised $8.8 million to expand its white-label resale technology across Europe and build pricing AI that helps luxury brands compete in the secondhand market.
- Brandback raised $7.4 million to help retailers embed resale directly into their checkout experience, giving shoppers instant visibility into the future value of their purchases.
- AptDeco raised $5.84 million via a convertible note to keep building its logistics-heavy used furniture marketplace, where convenience is usually the biggest barrier to resale.
- Yaga raised $4.6 million to expand its social secondhand fashion marketplace beyond South Africa and into new regions, including MENA.
- PopChill raised $3 million to keep growing its authenticated luxury resale platform across Taiwan and Hong Kong, where demand for trusted secondhand designer goods is growing.
- Renow raised $2 million to help Northern European retailers process returns and secondhand goods faster without having to build their own recommerce infrastructure from scratch.
And, yes, we do cover most of them in our beautiful pitch about the resale market.
You may also want to check our ranking of the most funded startups in the resale market as well as our list of the most valued startups.
In our resale market deck, we answer all the common questions from investors and entrepreneurs
Is the resale market shifting toward smaller or bigger deals?
Across all 15 qualifying resale market rounds from Q1 2025 to Q1 2026, the average deal size was $17.9 million, but that number is almost entirely driven by two very large outliers.
The average deal size ranged from $1.1 million in Q1 2026 to $30.2 million in Q2 2025; Q2's high average is almost entirely explained by Kavak's $127 million round pulling the mean up, while Q3 2025's $2.3 million average is a more representative picture of where most resale market startups are actually raising.
If you exclude Kavak and Refurbed, the average deal size across the remaining 13 rounds drops to roughly $5.5 million, which suggests the resale market is still predominantly an early-stage, capital-efficient environment where most companies raise well below $10 million.
| Quarter | Number of deals | Average deal size | Deals below $2M | Deals above $50M |
|---|---|---|---|---|
| Q1 2025 | 3 | $11.1M | 2 | 0 |
| Q2 2025 | 5 | $30.2M | 0 | 1 |
| Q3 2025 | 3 | $2.3M | 1 | 0 |
| Q4 2025 | 3 | $25.5M | 0 | 1 |
| Q1 2026 | 1 | $1.1M | 1 | 0 |
| All quarters | 15 | $17.9M | 4 | 2 |
In our resale market deck, we help you understand how the market is structured
How concentrated was funding activity in the resale market?
Resale market funding was extremely top-heavy: in three out of five quarters, the single largest deal captured more than 70% of all capital raised in that quarter, which means the headline totals are largely a story about one company per quarter rather than a rising tide.
Across all quarters combined, the top 3 resale market deals (Kavak, Refurbed, and Archive) accounted for 78.8% of total funding, which reinforces the idea that investor conviction in this space is concentrated in a handful of at-scale winners rather than spread broadly across the sector.
| Quarter | Number of deals | % by Top 1 | % by Top 3 | % by Top 10 |
|---|---|---|---|---|
| Q1 2025 | 3 | 89.9% | 100.0% | 100.0% |
| Q2 2025 | 5 | 84.1% | 94.8% | 100.0% |
| Q3 2025 | 3 | 43.5% | 100.0% | 100.0% |
| Q4 2025 | 3 | 71.8% | 100.0% | 100.0% |
| Q1 2026 | 1 | 100.0% | 100.0% | 100.0% |
| All quarters | 15 | 47.2% | 78.8% | 100.0% |
In our resale market deck, we have designed useful charts to give you full market clarity
Which categories in the resale market received the most funding?
Used car marketplaces captured 47% of all resale market funding in this period, entirely through Kavak's $127 million round, which reflects how capital-intensive building a full-stack car resale operation with inspection, financing, and inventory really is compared to other resale categories.
Refurbished electronics was the second-largest category with $73.9 million across three deals, a strong result that shows investors prefer resale categories where products can be graded, warranted, and standardized, making trust and repeatability much easier to deliver to buyers.
Brand resale software came third with $48.1 million across four deals, which is a notable share for companies that do not own the consumer relationship directly, signaling that many investors believe the biggest bottleneck in the resale market is operational enablement, not consumer-facing marketplaces.
| Category name | Number of deals | Total raised | Startups and amount |
|---|---|---|---|
| Used car marketplace | 1 | $127.0M | Kavak ($127.0M) |
| Refurbished electronics marketplace | 3 | $73.9M | Refurbed ($55.0M), Revibe ($17.0M), Grest ($1.9M) |
| Brand resale software | 4 | $48.1M | Archive ($30.0M), Faume ($8.8M), Brandback ($7.4M), Speeral ($1.87M) |
In our resale market deck, we cover the latest tech updates shaping the market
Who are the biggest investors in the resale market?
SoftBank co-led Kavak's $127 million round, making it the single largest check-writer in the resale market over this period, which is consistent with SoftBank's broader pattern of backing large-scale marketplace businesses in emerging economies.
General Atlantic also co-led Kavak's $127 million equity round alongside SoftBank, reinforcing the firm's long-standing interest in high-growth consumer marketplaces in Latin America.
Orilla co-led Refurbed's $55 million round, making it one of the most active investors in the refurbished electronics segment of the resale market during this period.
Energize Capital led Archive's $30 million Series B, backing the thesis that brand resale software is a durable infrastructure play as secondhand commerce becomes a mainstream channel for major fashion brands.
Partech led Revibe's $17 million round, continuing its track record of backing growth-stage marketplaces in emerging markets, particularly in MENA where refurbished electronics demand is accelerating.
Amundi Private Equity Transition Juste led Faume's $8.8 million round, reflecting growing interest from institutional investors in the sustainability-adjacent resale software space in Europe.
Earlybird led Brandback's seed round, adding resale market infrastructure to its European tech portfolio and betting that embedded recommerce will become a standard retail feature.
Darwin Ventures led PopChill's $3 million Series A, backing the expansion of authenticated luxury resale in Asia, where consumer appetite for trusted secondhand designer goods is growing quickly.
Specialist VC led Yaga's $4.6 million Pre-Series A, supporting the company's ambition to scale a mainstream secondhand fashion platform beyond South Africa into new emerging markets.
Tilia Impact Ventures led Minimist's $1.1 million pre-seed, backing the thesis that AI-powered listing automation is the key bottleneck to unlock for secondhand retailers operating at scale.
Disclaimer: this investor list may be incomplete; we focus on publicly disclosed lead and prominent recurring investors, so some frequent minority participants may be underrepresented. "Total funded" does not represent the amount personally invested by an individual investor. Instead, it refers to the aggregate amount raised across all fundraising rounds in which the investor participated.
| Investor | Number of deals | Total funded | Startups |
|---|---|---|---|
| SoftBank | 1 | $127.0M | Kavak |
| General Atlantic | 1 | $127.0M | Kavak |
| Orilla | 1 | $55.0M | Refurbed |
| Energize Capital | 1 | $30.0M | Archive |
| Partech | 1 | $17.0M | Revibe |
| Amundi Private Equity Transition Juste | 1 | $8.8M | Faume |
| Earlybird | 1 | $7.4M | Brandback |
| Specialist VC | 1 | $4.6M | Yaga |
| Darwin Ventures | 1 | $3.0M | PopChill |
| Tilia Impact Ventures | 1 | $1.1M | Minimist |
In our resale market deck, we track adoption trends and shifts in consumer behavior
Related blog posts
- A full list of funding deals in the resale market
- Which startups have raised the most funding in the resale market?
