Totspot, a marketplace to buy and sell children’s clothes, announced today that it closed a $1.5 million seed investment led by Seven Seas Venture Partners. GGV Capital, 500 Startups, and Structure Capital also participated.
The mobile marketplace says it aims to help moms sell and restock their kids’ closets. However, as cofounder and CEO Vijay Ramani explained, Totspot quickly developed into a place where users shared more than styling advice for their kids.
“It became a community. They started demanding more and it grew organically over the course of months,” said Ramani. Now, the marketplace offers an option to sell women and men’s fashion.
“The focus still is on moms to buy for the whole family,” he added.
Totspot says it has over 200,000 users, most of them mothers from Middle America. Ramani attributes Totspot’s success with mothers because “90 percent of the decisions are made by them.”
“We are connecting moms,” he said. “We give them access to items for which they would have to drive miles to get.”
The marketplace recently launched a “concierge” service, in which users can sell their items through a middleman.
To date, Totspot has raised at least $3.3 million. The funds from this round will be used to grow its selling assistant and expand to new categories.
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Totspot is America’s fastest growing fashion resale shopping app for moms. Moms can sell and shop apparel and fashion accessories for kids, women and men on the go. The resale shopping pla... All Totspot news »