Thriftify, the online platform for 98pc of Ireland’s charity shops, has received a €1.6m investment as the company accelerates its expansion plans.
The investment was led by the Halo Business Angel Network Impact Syndicate, with participation from Themvar VC, as well as angel investors, including former River Island chief executive Ben Lewis.
It follows ongoing growth in the UK market for the sustainable e-commerce firm, as well as improvements in the company’s technology. These enhancements will now allow Thriftify to automatically value any clothing donation and then list them on its own website, as well as multiple online marketplaces, such as eBay, Facebook and Depop.
Thriftify also handles the customer care and fulfilment of orders.
As part of the company’s growth, Thriftify has also unveiled plans to add twenty new jobs in the next 12 months. The new roles are primarily in the sales and marketing departments as the company looks to boost its online presence. The new positions will also include tech and e-commerce focused jobs.
“As a team, we're absolutely thrilled to have the resources we need to fundamentally change the fashion industry,” said chief executive Rónán Ó Dálaigh.
“We've been boot-strapped and lean for a long time and while we'll still stay true to that, we're going to invest in some remarkable new hires and areas that we know are going to generate a major impact, so overall it's definitely the most exciting period in our journey so far,” he added.
Thriftify has grown around 300pc since it was launched in 2018. With almost all of Irelands charity retailers registered on the site, the platform now aims to have all British charity retailers on board by the end of next year.
The company now employs 30 people full-time, with offices in Dublin and London.