SoleSavy, the trendy sneaker community, has received a round of US$12.5 million in financing and will enter Japan, the United Kingdom, and Singapore.

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â–² SoleSavy founder Du Sanji (left) and Pralica (right).

On June 22, according to TechChurch, SoleSavy, a trendy sneaker community headquartered in Vancouver, Canada, completed a round of $12.5 million in financing. This round of investment was led by Bedrock Capital, with participation from Dapper Labs CEO Roham Gharegozlou, musician Diplo, Bessemer Ventures and Turner Novak's Banana Capital.

SoleSavy's current round of funds will be used to upgrade technology, increase personnel, and launch new products and services. It plans to expand its product range this fall and enter new markets such as Australia, New Zealand, the United Kingdom, Singapore, Japan, Mexico and Europe. SoleSavy hopes to create a membership-based trading market, change the way members interact and buy sneakers, and further create community-led sneaker content and experience, and market dissemination through podcasts and videos.

SoleSavy was established in 2018 and is committed to providing fans with a community of carefully selected shoes. Following the completion of the $2 million seed round of financing at the end of last year, SoleSavy received another $12.5 million in Series A financing after a lapse of six months, indicating that capital is still optimistic about the company's development prospects. According to SoleSavy CEO Dejan Pralica (Dejan Pralica), since the seed round of financing, the company's team members have grown from 10 to 37, and the number of users has tripled.

Unlike ordinary trendy sneaker websites that make price difference by frying shoes, SoleSavy was established to spread sneaker culture and allow true sneaker enthusiasts to grab their favorite sneakers at the selling price, instead of being forced to go to the second-hand market to buy sneakers at high prices. Currently, SoleSavy adopts a subscription membership system with a monthly fee of 33 US dollars and an annual fee of 300 US dollars.

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