Looking for a bag? Shoes? You might just find what you’re eyeing on Popchill!

This marketplace for authentic secondhand luxury goods just raised an additional $1.3M for their Pre-Series A round. Oh, and they’re planning to expand to Singapore.

• Founded in 2021, they operate in Hong Kong and Taiwan.

Investor check. Top Taiwan Venture Capital, 500 Global, Acorn Pacific, ITIC, AVA Angels Fund, Acorn Pacific Ventures, and Darwin Ventures joined in!

• This takes the amount raised in their Pre-Series A+ round to $3.1M.
• They’ve raised $6.2M to date.

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🛍️ Buy, buy, buy

Their marketplace has over 100,000 items. Right now, they offer men and women’s bags, shoes, clothes, and accessories.

• How they get their supply? They work with three of the top ten luxury Japanese resellers, and they work with suppliers from Taiwan and Hong Kong.

Just buy from the sellers on their platform and get it shipped directly to you.

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✅ Keepin’ it real

How do you know it’s authentic?

Sellers send the items to PopChill, then they make sure it’s authentic through third-party services before sending it to buyers.

• Double-checking. They use two services, AI-powered Entrupy and LegitApp.

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🔢 Run the numbers

• Since its launch last year, PopChill’s Hong Kong business is averaging a 40% monthly growth rate, making up 10% of the company’s total transaction volume.
• Handbags constitute 80% of sales.
• The company’s annual gross merchandise value (GMV) for Taiwan is $18.5M, with the monthly transaction amount over $1.5M.
• The average order value on the platform is $862.

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💍 What’s next on your shopping list?

They plan to use the funding to expand to watches and accessories in the next 6-12 months.

Market updates. They’re eyeing to expand to a new market (they’re eyeing Singapore!) within this year.