The world is a rapidly changing place, and entrepreneurs are identifying opportunities to launch new businesses which aim to capitalize on new trends.
Headquartered in Oregon, The Renewal Workshop is a company which helps brands reduce waste (and economic write-downs) by reclaiming, renewing, and ultimately reselling clothing and gear that was otherwise unsellable.
The Renewal Workshop “renews” all clothing and gear through a cleaning, repair, and certification process prior to shipping out to the next owner of the garment.
The Renewal Workshop raised a $5.5 million Series A led by Dutch firm Social Impact Ventures NL, in which several prior and new investors participated.
According to a press release announcing the round, the company used part of the capital to open its first European facility, in Amsterdam, “offering [the company’s] entire suite of services to European apparel brands, from circular business model strategy to garment and textile renewal services and recommerce management.”
Small and medium sized businesses typically rely on the full faith and credit of their owners to keep the company going.
LA-based Camino Financial is a lender specializing in servicing small businesses started and led by Latinx people.
This week, the company announced $8 million in Series A funding led by Mexico-based financial services company Crédito Real, which previously provided a rotating credit facility to Camino.
Camino Financial says it will use the new funding to build out statistically-driven business intelligence capabilities and accelerate growth.
The company announced it raised $2.1 million in seed funding co-led by Jason Calacanis’s LAUNCH and Wavemaker Partners.