Uruguay-based Vopero, an online fashion resale marketplace, secured $7.5 million in new capital from Grupo Axo, one the largest fashion retailers and distributors of brands in Latin America, in conjunction with US-based fashion resale platform, ThredUp.

Highlighting the challenges of scaling across all departments, Alejandro Esperanza, chief executive of Vopero, said the partnership will bring years of experience in the fashion industry to the company and add value that will “help consolidate Vopero as a leader in circular fashion in Latin America.”

With the investment, the fashion resale site is expecting to grow in Mexico and expand into Brazil, Colombia and other Latin American markets.

Vopero was founded in November, 2020 by Alejandro Esperanza, alongside Maggie Ferber and Ignacio Cattivelli. The company started operations in Mexico in April this year and already has more than 3,000 vendors offering over 80,000 products.

Grupo Axo CEO, Andrés Gómez, said sustainable e-commerce in Latin America represents a major opportunity.

“Vopero is uniquely positioned to lead the space,” he added.

Grupo Axo is a Mexican fashion company that operates brands such as Tommy Hilfiger, Abercrombie & Fitch, Calvin Klein, Bath & Body Works, and Guess locally.

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