Singapore fashion tech startup MadThread has raised US$500,000 in seed funding.
The deal was managed by AngelCentral, an angel investment community that supports startups in Southeast Asia, and Phey Teck Moh. Eleven other investors also participated.
Founded in 2018, MadThread offers rental fashion 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,” said Nicole Hu, founder and CEO of MadThread.
Before the seeding round, Madthread had received a six-figure investment.
