P2P fashion platform raises $1.7m on Snowball Effect

New Zealand fashion marketplace Designer Wardrobe announced this week it has successfully completed a $1.7 million capital raise through online private equity marketplace Snowball Effect. More than 150 members of the general public joined Stephen Tindall’s K1W1, venture capital investor Aaron Bhatnagar, and existing investors Simon Moutter and Shane Bradley in the deal.

Designer Wardrobe’s Donielle Brooke

The funds are earmarked for product expansion and an Australian launch.

Founded by Donielle Brooke in 2013, Designer Wardrobe has more than 87,000 members with more than 26,000 listings and 1.2 million monthly page views.

The Designer Wardrobe raise brings Snowball Effect’s collective raise total to more than $25 million and 26 offers. The platform reaches more than 13,000 investors.