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IDB Invest Promotes the Circular Economy in the Latin American Fashion Sector with GoTrendier Deal

• The funds will help finance the growth of one of the largest marketplaces for second-hand clothing in the region.


IDB Invest made a capital investment in GoTrendier, a digital platform offering the purchase and sale of second-hand clothing. The investment is part of a 'Series B' round of up to US$15 million co-led by IDB Invest, Creas Impacto and IDC Ventures.


GoTrendier plans to use the resources of the investment to expand its operations by expanding its platform within the markets where it operates in Mexico and Colombia.


This innovative business model is a clear example of a circular economy presenting environmental benefits thanks to the reduction of CO2 emissions, among others, and significant cost savings for clothing consumers.


In addition, IDB Invest will help GoTrendier in the execution of its sustainability strategy by helping the company to improve consumer environmental awareness, and monitor and control GoTrendier's environmental commitments.


This initiative demonstrates IDB Invest's commitment to promoting innovation in the region, supporting disruptive business models that provide a clear benefit to citizens thanks to improved efficiency.


The investment is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): Decent Work and Economic Growth (SDG 8), Reduce inequality within and between countries (SDG 10), and Responsible Consumption and Production (SDG 12).


About IDB Invest


IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $15.3 billion in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.


About Go Trendier


GoTrendier is the leading platform for buying and selling second-hand clothing for women and children in Mexico and Colombia. We are a fashion community, where you can buy and sell: clothes, bags, jewelry, shoes and accessories. We have more than 6 million users and 20,000 garments are uploaded daily to our platform.