The Renewal Workshop receives funding boost, enters the Netherlands

The American company Renewal Workshop recently opened its first renewal facility in the Netherlands after receiving around 5 million dollars investment led by European venture capital funds impact Social Impact Ventures, SHIFT Invest and Quadia involving existing US investors Closed Loop Ventures, Gratitude Railroad, Portland Seed Fund and High Meadows Investment Group. The company aims to use the funds to expand operation in Europe.

“The Renewal Workshop has proven that their model works for renewing clothing and re-commerce not only can boost sales and customer engagement for brands, but also can have a significant impact on the environment. As investors we felt attracted to this strong combination of sales and impact, and we are excited to see The Renewal Workshop scaling,” said Eske Scavenius, Senior Investment Manager of Social Impact Ventures.

Co-founders Jeff Denby and Nicole Bassett built The Renewal Workshop, the first renewal facility in the United State in 2016. And in November, The Renewal Workshop opened its first European renewal facility in Amsterdam.

“The Renewal Workshop has some of the largest US clothing brands such as The North Face, Mara Hoffman, Prana and Coyuchi, whom the company helped launch renewed collections. We make fashion brands make the transition to full circular, zero-waste businesses,” added Bassett.