Amsterdam-based fashion outlet startup Otrium has raised 750.000 euro from former Tommy Hilfiger executives Fred Gehring (ex-CEO) and Ludo Onnink (ex-CFO) and Adriaan Mol, the co-founder of Mollie and MessageBird. Mol came in second with MessageBird as the most well-funded company in the Netherlands in 2017, raising 60 million euro in a Series A round. The latter being the largest sum ever for a Series A round for a European startup. Otrium will use the capital raised to accelerate the international expansion of Otrium. The company is already active in the Benelux.
Otrium is the Shopify for fashion outlets. It provides the e-commerce technology stack and logistics handeling for fashion brands. But unlike Shopify, the fashion brand online outlets remain a part of the Otrium marketplace. By providing the tech stack Otrium enables brands to enter the outlet market relatively easily. They don’t have incur significant upfront investments to get their outlet up and running.
Founded in 2015 by Max Klijnstra (27) and Milan Daniels (26) the startup claims to have thousands of members on its platform.
“Otrium is the innovative challenger for the fashion outlet industry, which is one of the fastest growing sectors within fashion. The founders Milan Daniels and Max Klijnstra have shown amazing results in the past years”, Gehring explains why it made sense for him to participate in this funding round. Adding: “Otrium is a modern and welcome addition to the outlet landscape.”
“We are very lucky to have an amazing team that is able to grow Otrium. This gives us the time and clarity to focus on strategy and the bigger picture, or on fundraising when it’s needed to boost growth even further”, says Daniels to StartupJuncture.
Otrium previously raised 200.000 euro in an angel round in 2015 and 600.000 in a seed round in 2016.
Photo by freestocks.org on Unsplash