BPI leads Fleek’s $25m Series B to scale the AI infrastructure behind global secondhand fashion
Secondhand fashion is a space we know well. As early backers of Vinted in 2015, before the category went mainstream, we have seen first-hand how large this market can become when the right platform gets behind it. Fleek is tackling the layer beneath the consumer marketplace: the fragmented, largely offline supply chain that sits behind every secondhand item bought and sold globally.
We’re excited to announce our lead investment in Fleek’s $25m Series B, alongside eBay, FJ Labs, H14, and existing investors Andreessen Horowitz, HV Capital, and Y Combinator. The raise brings Fleek’s total funding to $45m.
Digitising a $200b+ industry that still runs on paper
Every year, up to 24 billion secondhand clothing items move through the global supply chain. Yet despite secondhand fashion growing three times faster than traditional apparel, the infrastructure behind this $200b+ industry remains largely manual, fragmented, and offline. Garments are still assessed by hand, graded using inconsistent standards, and traded through disconnected networks with little pricing transparency.
“Most people have no idea what happens to a piece of clothing after they part with it. It travels thousands of miles, gets sorted by hand in a warehouse in Karachi, and finds its way back to a vintage shop in London or New York, if it’s lucky. We started Fleek because that system is broken, the market it serves is exploding, and nobody is building the technology and infrastructure to fix it,” said Abhi Arora, co-founder and CEO of Fleek.
Fleek was founded in London in 2021 by Abhi Arora and Sanket Agarwal. The company operates a B2B marketplace connecting 2,000+ wholesale suppliers and graders with 50,000+ retailers and resellers across 100+ countries. At the core of the platform is Fleek Sort, a proprietary vision-language model trained on millions of real-world secondhand transactions, which helps suppliers identify, grade, and list inventory at scale. AI-powered pricing, search, and matching systems then connect that inventory to the right buyers globally. Every transaction feeds back into the model, creating a proprietary intelligence layer that improves continuously with scale.
“Re-commerce platforms have been an important and very successful pillar of our investment strategy since the beginning of BPI. We backed Vinted in 2015 and in subsequent rounds. Other examples include Carsome, Buycycle or Revibe and now Fleek“, said Christian Teichmann, Executive Board Member at Burda and CEO of Burda Principal Investments.
“We know what it takes to build a platform that scales in this market. From its growing supplier network to the technology behind it, Fleek is building the infrastructure the next generation of fashion will rely on,” said Julian von Eckartsberg, Managing Director Europe at BPI.
With the industry still growing rapidly, we’re excited to lead this round and look forward to supporting Abhi, Sanket, and the entire Fleek team as they continue to build and scale their vision.
Read more about Fleek at joinfleek.com
