Ellex advised Specialist VC in Yaga’s €4M pre-Series A funding round

Ellex in Estonia advised Specialist VC in the €4 million pre-Series A funding round of Yaga, a fast-growing online marketplace for second-hand fashion. The round also included participation from H&M Group, a group of angel investors, and other EstVCA members, such as Trind Ventures and Startup Wise Guys.

With the new funding, Yaga plans to expand primarily into the Middle East and North Africa region, while also strengthening its team and developing its existing markets. This round brings Yaga’s total funding to €7.2 million.

According to Yaga’s founder and CEO, Aune Aunapuu, second-hand fashion is no longer a niche but becoming the first choice for people seeking both affordability and sustainability. “Our success in South Africa shows this is a global movement, not limited to Europe or the US,” she said.

Over the past few years, Yaga has doubled in size annually, reaching a GMV run rate of over €50 million. The company is now profitable and has achieved this scale with a 25-person team and €3.2 million previously raised – showcasing the efficiency of its model and strong market demand.

Ellex team included Antti Perli, Rutt Värk, Gerd Laub, Merlin Liis-Toomela, Hanna Pahk and Katrina Külm.

Source: estvca.ee