South Korea-based Madeleine Memory has closed its pre-Series A2 funding round with an additional KRW1.5 billion ($1.1 million) investment from the Korea Credit Guarantee Fund and MY Social Company, bringing the total raised in this round to KRW3.6 billion.
The company had previously secured KRW2.1 billion in April as part of the same round.
Founded in 2018, Madeleine Memory operates resale-as-a-service Relay, which enables fashion brands and retailers to enter the secondhand luxury market. Relay provides a full-service, turnkey resale service — including technology, logistics and operations — enabling brands to implement a circular business model and execute a global resale strategy with minimal friction.
“Starting with Kolon FnC’s proprietary resale marketplace, OLO Relay Market, we introduced Korea’s first brand-certified resale service — soon to be followed by LF’s own resale marketplace,” the company wrote in a LinkedIn post.
“We are also expanding the application of our solution through trade-in services launched in partnership with Hyundai Department Store and Lotte Department Store, redefining how resale is integrated within mainstream retail environments.”
With the new funding, Madeleine Memory says it is focused on establishing new resale touchpoints for brands and retailers. The goal is to meet growing consumer demand for sustainable and circular fashion while creating new revenue streams and enhanced customer-engagement opportunities.
“We’re committed to transforming the growing consumer demand for resale into a new customer touchpoint for brands and retailers — creating a new revenue stream for businesses in the evolving fashion market, while delivering a high-quality, smart consumption experience for consumers,” the company said.
