Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Capital on the Frontier Best Practices Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Repassa raises capital to help Brazilians recycle used clothes



ImpactAlpha, December 5 – Brazil-based Repassa is an online platform that allows Brazilians to buy and sell lightly used clothes. The company has raised an undisclosed amount of funding from São Paulo-based venture capital firm Redpoint eventures.

Redpoint eventures is not an impact investment firm; rather, it focuses on investing in companies capitalizing from Brazil’s fast growing online connectivity. Repassa meets this criteria by facilitating used clothing sales online. The company takes a 40% cut of each sale as a fee for warehousing and caring for sellers’ garments until they’re sold.

Repassa’s mission, however, is to curb the textile industry’s environmental impact by helping divert used clothing from landfills. It says that sales through its platform have helped divert 18.1 tons of clothing from landfills; it also tracks millions of liters of water saved (97.7 million) and CO2 emissions avoided (126.6 tons) from new textile processing. Repassa encourages sellers to purchase from its site as well by offering them a 10% discount.

Repassa joins a small number of other startups with similar environmental objectives that have recently raised investor capital. In September, Lithuania-based online retailer Vinted recently raised €50 million to connect buyers and sellers of used clothes worldwide, while eco-friendly t-shirt subscription company For Days closed a $2.8 million funding round in November.

You might also like...