armadioverde is the first community-based platform that allows to generate value from used clothes, shoes and bags. By staying comfortably at home, users earn award points (“stars”) by sending their clothes to armadioverde. Stars can be immediately spent on the platform to buy clothes, shoes and bags by adding a few euros: an easy, fast and fun customer experience.
Having proved the market fit and business model in the Italian market, armadioverde was ready to gather new funds in order to consolidate its presence in the national market, expand the platform in other European countries and invest in operational efficiency to further leverage scale-effects and cost reductions.
With the support of Cross Border Growth Capital (CBGC) as its exclusive financial advisor, armadioverde has met a large number of investors of different categories, from Italian and international VC funds to multinational corporations of the fashion sector. It was thus possible to validate a credible growth strategy and subsequent rounds by receiving feedback from investors at various stages. CBGC supported the company in the governance review and negotiation between partners and investors. The early commitments of the first investors, together with the expertise of CBGC, helped the Company in obtaining debt financing from a primary Italian banking institution that matched the equity capital raise, subscribed by strategic industrial investors, one of the leading impact funds in Italy.