Yaga, a secondhand fashion marketplace, has secured €4 million ($4.6 million) in pre-Series A to expand its operations in Africa and the Middle East, according to its founder and CEO Aune Aunapuu.
In a LinkedIn post, Aunapuu highlighted the investment, led by Specialist VC, with participation from H&M Group Ventures, Trind Ventures, Startup Wise Guys, and a group of angel investors.
Yaga launched in the Estonian capital of Tallinn with Yaga.ee in 2017 and expanded to South Africa with Yaga.co.za in 2020. Late last year, the company started operation in Kenya at Yaga.co.ke.
“This funding helps us explore expansion opportunities in Africa and MENA and keep making circular fashion more accessible — and more fun,” Aunapuu noted in the post.
Yaga describes itself as a c-to-c marketplace with transaction services, like escrow payment and various shipping options. Both listing and selling are free.
Yaga previously announced $2.2 million in seed funding round back in 2022.
“We’ve come a long way: 25-person team, €50M+ GMV run-rate, profitable, and backed by an incredible community of supporters,” Aunapuu added.
Leading marketplace horizontal Gumtree South Africa termed Yaga as one of its key competitors during a conversation with the AIM Group.
