This time in our blog, we put the spotlight on Yaga, a pre-loved fashion marketplace taking over emerging markets.
About Yaga
Yaga is an innovative e-commerce platform that specializes in pre-loved fashion, aiming to make sustainable shopping accessible and convenient. Founded in 2017 in Tallinn, Estonia, the company has grown significantly, expanding its operations to emerging markets. Yaga’s platform allows users to buy and sell pre-loved clothing and accessories, promoting a circular economy and reducing the environmental impact of fast fashion.
What Yaga Does
Yaga operates as a person-to-person marketplace, enabling individuals to list and purchase second-hand items securely. The platform offers features like buyer protection and multiple payment options, including bank links and cards. By focusing on second-hand fashion, Yaga addresses the growing demand for sustainable shopping solutions, empowering users to make eco-friendly choices while saving money.
From Estonia to Africa
Yaga was established in Estonia. After quickly establishing the market leader position in their home market, the company expanded its reach by launching in South Africa in 2019. This strategic move allowed Yaga to tap into emerging markets, where the demand for affordable and sustainable fashion is rising. Following four successful years in South Africa, where sellers have collectively earned over KSh 4.2bil, the company launched in Kenya.
Funding
Yaga has successfully raised funding to support its expansion and innovation. In 2022, the company secured €2.2 million in a seed funding round led by Startup Wise Guys, with participation from Trind Ventures, Specialist VC, and Rubylight. The funds are being utilized to enhance the platform’s features and expand its presence in emerging markets.
Yaga’s funding journey reflects its commitment to driving the second-hand fashion revolution globally. By leveraging technology and strategic investments, the company aims to make sustainable shopping a mainstream choice for consumers worldwide.
Conclusion
Yaga’s innovative approach to e-commerce and its focus on sustainability have positioned it as a leader in the second-hand fashion industry. With a strong foundation, impressive growth, and strategic funding, the company is well-equipped to continue its mission of promoting a circular economy and empowering communities in emerging markets. As Yaga expands its reach, it serves as a testament to the power of technology and entrepreneurship in creating a more sustainable future.