July 6, 2021
Tired of bots buying out the latest shoe drops before you have a chance to even log into your computer? Perhaps the $15.5 million that SoleSavy raised in their Series A funding could help you step up your shoe-buying game. The Vancouver-based startup’s all-equity round was led by Bedrock Capital and included Series A investor’s such as Shopify’s President Harley Finkelstein, American DJ Diplo, and Dapper Labs’ CEO Roham Gharegozlou. This comes just a few months after SoleSavy secured $2.5 million in their initial seed round.
SoleSavy attempts to combat problems, such as bots, that plague the sneakerhead community. Bots usually buy up all the inventory of a recently released shoe and resell them at inflated prices, making it harder for true savants of the sneaker universe to get their feet into a pair. Through its subscription-based model, SoleSavy aims to be a one-stop-shop for all the latest news, rumours, and purchase links for all those who aim to secure a pair of some highly sought after kicks. While SoleSavy caters to Canadian and American sneakerheads, the latest round of funding enables the startup to look into expanding into Europe, Australia, Singapore, and Japan.
With the global sneaker market projected to reach $30 billion by 2030, SoleSavy is lacing up to ensure that they build a viable social marketplace that is filled with passionate users. As CEO Dejan Pralica says, “Sneakers used to be about people, used to be about culture”. SoleSavy aims to bring back that culture to those who want to sport the latest sneakers that are offered. With 8,000 fervent users, SoleSavy ensures that their latest round of funding will leave the bots quaking in their boots.
Author: Nisheet Karthikeyan