Singapore-based fashion rental startup MadThread has raised over US$513,000 (or S$700,000) in seed funding in a syndicate deal managed by AngelCentral, an angel investment community that supports startups in Southeast Asia.
AngelCentral partner Phey Teck Moh led the round, which marks AngelCentral’s sixth syndicate. Eleven other investors also participated in the round.
MadThread advocates a smarter way of fashion shopping via a subscription model. It aims to build a one-stop online platform for consumers to experience and experiment with various fashion brands on demand.
“We’re on a mission to curate and partner with the very best of emerging and established fashion labels to give our customers access to an unlimited ‘closet in the cloud’ at a monthly flat fee,” Nicole Hu, founder and CEO of MadThread, said.
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