Elanic raises seed fund for growth

Elanic, a marketplace for used women’s fashion products has raised an undisclosed amount in seed capital from venture capital firm Rebright Partners, Sachin Bansal and Binny Bansal backed-TracxnLabs and angel investor Aneesh Reddy.

Elanic, is a mobile app-based platform that connects shoppers who want to sell used fashion brands such as Mango, Forever 21 and Zara to buyers. The company inspects items for authenticity, wear and tear and size before shipping them. Unlike other peer-to-peer re-selling platforms such as Quikr and Olx, Elanic focuses on fashion products that need a specialized service. The company is currently active in Bangalore and offers clothing, footwear and accessories at prices 70 percent lower than the original product prices.

Women keep shopping for products but don’t always use them. So the platform lets them sell such items and manages the inventory of such products by re-selling them.