# PurseIO

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/purseio

- Industry: Internet
- Headquarters: San Francisco, US
- Website: www.purse.io
- Total disclosed funding: $1.3M
- Latest round: Seed (Dec 7, 2015)
- Investors on record: 3

## About

PurseIO Inc. is a marketplace platform that connects buyers and sellers of handbags and accessories, facilitating a sustainable shopping experience through a curated selection of products.PurseIO Inc. was founded in 2014 in San Francisco, US. The company operates a marketplace where users can buy and sell handbags and accessories. In December 2015, it raised USD 1.0 mn in Seed financing led by Digital Currency Group. Andrew Lee is the CEO, while S. O. is the founder. The company has completed a total of 2 deals since its inception.Purse specializes in developing a unique marketplace platform designed to facilitate the buying and selling of handbags and accessories. The main product offering is the PurseIO Marketplace, which connects sellers with buyers through an online interface that emphasizes ease of use and a curated selection of high-quality products. The platform caters to fashion enthusiasts, collectors, and everyday consumers seeking both new and pre-owned items, providing solutions for a sustainable shopping experience. The marketplace aims to address the needs of fashion-conscious individuals looking for authenticity, variety, and affordability in their purchases. Currently, the service is accessible to customers primarily in North America and Europe, allowing a broad customer base to engage with their offerings.Purse generates revenue primarily through transaction fees on sales made within the PurseIO Marketplace. The company’s business model is structured around direct-to-consumer sales, where users can list their products for sale and buyers can purchase items directly through the platform. Revenue is derived from a percentage of each transaction, creating a scalable income stream linked to the volume of sales facilitated by the marketplace. Additionally, partnerships with brands or retailers may enhance revenue opportunities, potentially involving promotional collaborations or co-branded events. The platform's design aims to foster a vibrant user community, which can lead to increased engagement and repeat transactions.PurseIO Inc. plans to utilize the recent Seed funding of USD 1.0 mn raised in December 2015 to enhance its platform and expand its offerings. The company is focusing on the development of new products that will enhance the user experience, although specific launch dates have not yet been disclosed. Furthermore, Purse aims to expand its market presence into additional regions beyond North America and Europe, targeting potential growth areas by 2025. This strategic expansion is designed to increase customer engagement and broaden the reach of their marketplace.

## Funding rounds

- Seed, Dec 7, 2015, $1M — Digital Currency Group
- Seed, Nov 27, 2014, $0.3M — FundersClub, Strong Ventures

## Investors

- FundersClub (https://capitalatlas.ai/funds/fundersclub) — Seed
- Strong Ventures (https://capitalatlas.ai/funds/strong-ventures) — Seed
- Digital Currency Group (https://capitalatlas.ai/funds/digital-currency-group) — Seed