In 2018, Michael Holzmann and David Benhaim, two sneaker lovers, decided to create a purchase and resale platform dedicated to their passion: Wethenew. Five years later, success is on the agenda for this specialized marketplace which has a community of 1.5 million followers and more than 100,000 partner resellers.
A fundraising of 20 million euros
Wethenew announced on May 10 a fundraising of 20 million euros, including 18 million in equity. Several venture capital companies took part in this operation, including C4 Venture, Singular and Chalhoub Ventures & Acquisitions, but we also note the presence of a business angel well known to the general public: footballer Antoine Griezmann.
With this contribution, Wethenew intends to consolidate its positions in several European markets including the Netherlands, Italy, Spain, Germany and Belgium. It also wants to use this windfall to invest in the tools for its customers who are part of its success.
A paid technology
The success of the startup is based precisely on the features it offers to users of its service. Quoted by our colleagues from The Digital FactoryDavid Benhaim explains: “We’re not just a shoe site, but a real technology company. Our tech team has designed and maintains a platform, the Salerspace, which can process thousands of orders per day, equipped with a reseller interface allowing them to virtually consign their products and receive offers, or to reserve physical places. in our warehouses ».
This quality of the tools offered by the platform convinces. Wethenew hopes to triple its catalog over the next 18 months with the ambition of achieving profitability by the end of the year.
A growing market
Traditionally, the sneaker market is a matter for specialists. But, and this is what makes Wethenew successful: the platform has managed to open up to a much wider audience.
This is precisely what the two co-founders explain at Echoes : “This is one of the keys to our success: we have brought together both sneaker specialists and newcomers, by offering content to discover this universe. Today, we are more identified as an e-commerce brand than a marketplace. »
This recognition is manifested in particular via a community of 1.5 million followers. And it materializes in the real world thanks to a partnership that allows the startup to display itself in two dedicated spaces at Galeries Lafayette in Paris with the sale of streetwear clothing.
