PopChill
Marketplace for authenticated secondhand luxury and fashion goods.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor investor investor | €0.0 | round | |
| investor investor investor investor investor | €0.0 Valuation: €0.0 | round | |
* | $1.3m Valuation: $11.0m | Seed | |
| Total Funding | 000k | ||
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PopChill is a C2C marketplace platform for pre-owned luxury fashion, initially focusing on women's apparel in Taiwan and Hong Kong. Founded by serial entrepreneurs Andy Kuo and Kelly Liao, the company represents their fourth startup venture, following successful exits including one IPO and one acquisition by an international internet company. Kuo, a Stanford University Computer Science graduate with experience at Yahoo and Oracle, and Liao, a University of Taiwan graduate, aim to address the trust deficit in the online resale market for high-value items.
The platform operates on an authentication-first model. When a sale occurs, the item is first sent to PopChill for verification before being shipped to the buyer. To ensure authenticity, the company employs AI-powered technology from partners like Entrupy, which boasts a 99.1% accuracy rate, supplemented by manual quality checks. This process is designed to eliminate counterfeits and ensure the product matches its online description, solving a major pain point for consumers of secondhand luxury goods. The business model is a C2C marketplace, avoiding the inventory risk that has caused other platforms in the space to fail. PopChill generates revenue by taking a commission on sales.
Since launching, PopChill has demonstrated significant growth, with its monthly gross merchandise value (GMV) in Taiwan exceeding $1.5 million and an average order value of $862. The platform features over 100,000 items, with handbags accounting for 80% of sales and brands like Chanel, LV, and Hermès making up 60% of revenue. The company has expanded into Hong Kong, which now contributes 10% of total transaction volume with a 40% average monthly growth rate. PopChill has raised a total of $6.2 million in funding from investors including 500 Global, Acorn Pacific, and ITIC. Future plans include expansion into Singapore and diversification into watches and jewelry.
Keywords: secondhand luxury, luxury resale, fashion marketplace, C2C e-commerce, authenticated fashion, pre-owned designer goods, social commerce, Andy Kuo, Kelly Liao, Taiwan, Hong Kong, fashion authentication, consignment, circular fashion, luxury handbags, designer resale, online marketplace, Entrupy, sustainable fashion, venture capital