To fuel its growth, Trove has raised $30 million in Series E funding, the resale technology company announced on Thursday. Wellington Management and ArcTern Ventures co-led the funding round, and Mitsui Fudosan’s CVC Fund, G2 Venture Partners, Prelude Ventures and other current Trove investors participated in the round.
The funding will support the company’s expansion across new brands and verticals and growth of Trove Recommerce facilities to meet rising resale demand.
Trove forecasts it will resell “tens of millions of items” by 2025 as it expands its logistics and operations facilities, per the press release.
Source: Retail Dive
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