Vivrelle, a membership club that provides users with access to designer handbags and accessories, has announced the closing of a 35 million dollar Series B financing round, led by 3L Capital.
The company also counted actresses Lily Collins and Nina Dobrev and TV personality Morgan Steward McGraw among its investors for the funding.
It builds on Vivrelle’s previous Series A round, which it carried out almost a year and a half ago, and has since seen it grow in a “triple digit expansion”.
This new round will help it to accelerate further growth across all verticals of the business, the company said in a release.
Vivrelle co-founder and CEO Blake Geffen further noted that the funding will aid in increasing its inventory offerings, opening additional showroom spaces and growing its team.
Jodi Kessler, partner at 3L Capital, added: “Vivrelle has already emerged as a cornerstone of the resale and shared accessories marketplace, and is positioned to continue to expand upon this success through the strength of the brand’s incredible business model.
“The fact that Vivrelle has been EBITDA profitable since inception while demonstrating best-in-class growth and member retention, makes us excited to partner with the company as they reinvent the luxury retail experience, which we believe is a hybrid of retail, resale and subscription."