Invertia The impact fund Creas participates in a round of 7 million for Patatam
A potato store.
investment funds
The capital invested by three specialized European funds will allow the landing of the second-hand clothing firm in Spain.
June 3, 202119:13Related news
The Spanish impact investment manager Creas has participated, together with two other specialized European firms, in an investment round of 7 million euros for the second-hand clothing company Patatam. The objective of the operation is to strengthen the supply chain and improve logistics to meet the demand of its partners.
From Creas, those responsible for the investment, Emilio Ayanz and Lorenzo Guerra, have underlined that "Patatam has the potential to become one of the emblematic companies with social and environmental impact in Europe". In this sense, they have pointed out "the circular value proposal on a scale for consumers, large distribution and the fashion industry" for which the second-hand clothing firm is committed.
Together with the specialized Spanish manager, the Swiss Quadia and the French Colam Impact have taken part in the financing round. With your support, Patatam is heading for a next level of expansion, which involves opening new markets, starting with Spain. In this regard, it has recently launched two corners in Carrefour centers and is finalizing an agreement with Kiabi to incorporate five new stores in September.
Expansion and experience
Patatam's partners currently include the generalists Auchan (Alcampo) Système U, Cora, Carrefour, and Leclerc, the specialized Kiabi, Gémo, and Decathlon, as well as the e-commerce firms Spartoo, Kiabi Seconde Main, Auchan Marketplace, and Leclerc Marketplace. .
Eric Gagnaire, co-founder and president of Patatam, pointed out that the financing round "has validated our strategic change to become the main player in B2B second-hand fashion".
He also highlighted that the company's resale and collection solutions "are already integrated in more than 15 different brands and in more than 300 stores in France, Belgium, Spain and Poland." In addition to boosting his growth plans, Gargnaire has pointed to the opportunity to count on the "experience in managing the environmental and social impact" of his new investment partners.
Related Articles