Beni, the web browser extension for secondhand shopping, announced the close of its seed round of $4 million led by Buoyant Ventures. This brings Beni to over $5 million in funding from its pre-seed and seed rounds.
With Poshmark’s recent acquisition by Naver and ThredUp projecting the fashion resale market will top $82 billion in the United States by 2026, shoppers are invested in supporting the circular fashion economy. Beni was designed with this in mind, enabling shoppers to save money and shop sustainably with the click of a button.
“We started Beni to make resale more accessible,” CEO Sarah Pinner, who co-founded Beni with CTO Celine Mol, said. “Beni saves shoppers hours of scrolling and helps resale sites get the right inventory to the right shoppers. With this financial backing, we will grow our team and scale Beni to accelerate the adoption of resale.”
Here’s how it works: Beni welcomes shoppers to the world of re-commerce by making it easier to find and buy secondhand apparel and accessories. When shoppers sees something they want, the browser extension suggests similar listings from resale sites.
“Beni will help reduce greenhouse gas emissions and water use associated with fashion retail all while helping shoppers save money,” Amy Francetic, managing general partner of Buoyant Ventures, said. “Buoyant Ventures, a female-owned venture fund, is proud to support this female executive team who is on a mission to help transform the circular economy.”
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Created by a women-owned company, the browser extension has been funded primarily by women in both the pre-seed and seed round. Buoyant Ventures is joined in the seed round by Better Ventures and pre-seed investors XYZ Venture Capital, Chingona Ventures, and Starting Line Ventures.
“Extending the life of our clothes is key to reducing waste and creating a more circular economy,” Lyndsey Boucherle, partner of Better Ventures, said. “It’s no secret that resale is booming, driven by consumer preferences for sustainability and cost savings. We were drawn to Beni’s unique and data-driven approach to unlock secondhand shopping for every consumer.”
Currently available on Chrome and Safari, Beni continues to develop its technology and partnerships to consistently surface the best pre-owned options to shoppers. It has partnered with more than 500 branded sites and 30 resale sites, such as The RealReal, Rent the Runway, Vestiaire Collective, eBay and Kidizen. With new partnerships launching every month, including a pilot program with Patagonia’s Worn Wear, Beni is working across the retail industry to foster a new era of circularity.
“Beni is an accelerant for both the consumer and the merchant shift to the circular economy. Sarah and Celine have worked closely with both parties to understand where the friction currently lies in re-commerce and are laser-focused on building solutions to overcome it,” Chauncey Hamilton, partner at XYZ Venture Capital, said. “Beni continues to be one of the most magical consumer experiences for me. We couldn’t be happier to support Beni further on their mission to change the way we shop.”