Twig Group Ltd is pleased to announce the acquisition of Loopster Ltd, a second-hand clothing marketplace for an undisclosed amount.
Also Read: The Fresh Market Partners with True Impact Media, Leveling Up Their Offline Advertising.
Twig is a London-based, next generation fintech and banking app that allows users to trade their fashion or electronic items for instant cash.
Loopster, the first managed marketplace in the UK, developed a streamlined approach in buying and selling secondhand fashion by paying users upfront in exchange for their unwanted clothes.
Through the strategic synergy across the two businesses, Twig aims to incorporate the Loopster expertise by further fine-tuning and elevating the service to its users, powered by the circular economy.
Loopster will be incorporated into Twig and will be able to offer its customers the next generation of circular services.
Geri Cupi, Founder and CEO, said:
”I welcome Loopster and Jane into our Twig family. Together, with our circular economy focus and joint expertise in the market, we are excited to deliver the next generation of resale; one that is green and furthermore combines with banking and personal finance seamlessly’.
Jane Fellner, Founder of Loopster, mentions:
‘We are thrilled to partner with Twig and contribute together to our joint vision of reimagining resale and wealth in one solution. I am excited about fulfilling this mission, and we look forward to delighting our customers. Our Loopsters will have a lot more wonderful innovative solutions coming their way
About Twig
Twig is a London, UK-based new generation fintech, rooted in circular economy principles It’s mission is to empower consumers to value, unlock and enjoy wealth that they never knew they had. Clients have instant cash access while relinquishing fashion or electronic items they no longer want. As a part of its unique proposition, Twig is now offering carbon offsetting service, making it possible for its clients to offset their entire lifestyle carbon footprint