Amsterdam-based fashion startup Atrium has raised $120 million in a Series C funding round. The company, which operates an online outlet store for fashion brands, plans to use the funds to further expand its reach and improve its technology.
Founded in 2016, Otrium has quickly established itself as a leading player in the online fashion outlet space. The company offers a platform for fashion brands to sell excess inventory, giving consumers access to high-quality fashion items at discounted prices. With its innovative business model, Otrium has seen tremendous growth in recent years, attracting a large and loyal customer base.
The Series C funding round was led by investment firm TCV, with participation from existing investors including Accel and Global Founders Capital. The funds will be used to support Otrium’s growth, with a focus on expanding the company’s presence in Europe and the United States.
In addition to expanding its reach, Otrium plans to invest in technology to improve the customer experience. This includes enhancing its data analytics capabilities, as well as developing new features for its platform. The company also plans to invest in its team, hiring new talent to help drive its growth and innovation.
“We’re thrilled to have the support of TCV and our existing investors as we continue to scale our business,” said Otrium co-founder and CEO Marijn van Grieken. “This funding will allow us to further invest in our technology and team, and bring our unique offering to even more customers around the world.”
The fashion industry is undergoing a major transformation, with consumers increasingly turning to online shopping for their fashion needs. Atrium is well-positioned to take advantage of this trend, and with its latest funding round, the company is poised for continued growth and success in the years to come.
Conclusion
Otrium’s $120 million Series C funding round is a significant milestone for the Amsterdam-based startup. With the support of its investors, the company is poised to expand its reach, improve its technology, and continue its impressive growth in the online fashion outlet space.
FAQS
Q: What is Otrium?
A: Otrium is an Amsterdam-based fashion startup that operates an online outlet store for fashion brands.
Q: How much funding did Otrium raise in its Series C funding round?
A: Otrium raised $120 million in its Series C funding round.
Q: What will Otrium use the funds raised in its Series C funding round for?
A: Otrium plans to use the funds to expand its reach, improve its technology, and invest in its team.
Q: Who led the Series C funding round for Otrium?
A: The Series C funding round was led by investment firm TCV.
Q: What is Otrium’s focus for the future?
A: Otrium’s focus is to expand its presence in Europe and the United States, enhance its data analytics capabilities, and hire new talent to drive growth and innovation.
Q: Why is Otrium well-positioned in the fashion industry?
A: Otrium is well-positioned in the fashion industry due to its innovative business model, which offers a platform for fashion brands to sell excess inventory and its impressive growth in recent years. With the support of its investors, Otrium is poised for continued success in the online fashion outlet space.
