Global trainer marketplace The Edit LDN has secured a $4.8m (£3.9m) seed round led by Regah Ventures as it accelerates growth in the US and MENA.
The Edit LDN’s international expansion follows a successful launch in the UK in 2020 when founder and chief executive Moses Rashid saw an opportunity in the market for luxury sneakers.
It provides a premium online marketplace for limited-edition trainers, streetwear and collectables, and has grown revenue by more than 500% every year since 2020.
Brands on sale include Nike Air Jordan, Louis Vuitton, Fear of God and Dior among others.
In 2022, the business signed a two-year global partnership agreement with the basketball team Chicago Bulls, became the first sneaker marketplace to offer a same-day delivery service in the UK and expanded its team from 18 to 45.
The Edit LDN became the first reseller in Harrods in 2021, launched new concession spaces in Galeries Lafayette in Doha in 2022 and signed an agreement with Harvey Nichols to launch in Riyadh in February 2023.
Rashid said: “We have been laser-focused on providing a premium service and doing this super-fast to anyone buying limited-edition sneakers globally.
“Our robust authentication process and detailed supply chains have helped to grow trust and love for the brand – we will double down on our tech stack to ensure we are ahead of the curve to source, offer and send the latest sneakers to anyone, anywhere in the world quickly.”
The multimillion-dollar funding was led by Regah Ventures, which was an early investor in Uber, as the global sneaker reseller market turned into a $30bn (£24.5bn) industry.
Regah Ventures chief executive Mark Hager said: “We are backing The Edit LDN to be the most disruptive and innovative global marketplace for limited sneakers, streetwear and collectables.
“With unique market positioning, celebrity endorsements, and the powerful brand they have built in a short space of time, it is a really exciting business.”
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