Lonca Receives $1.7 Million Investment

Lonca, founded to digitize wholesale fashion trade, raised $1.7 million in a seed investment round. 500 Emerging Europe led the $1.7 million seed investment round for Lonca, the next generation marketplace. Other participants in this investment round were OEL Ventures (Will Oberndorf), Şükrü Dağdelen, Akin Kısakurek, The 22 Fund, Kağan Sümer, Uğur Samut and SaxeCap.

Also See: EDITED Receives $15 Million Investment

Lonca will be Europe's Wholesale Fashion Operating System

Lonca serves as a fintech-powered fashion wholesale marketplace that brings boutiques and wholesale brands together. Founded in 2021, the startup enables SMEs to buy wholesale clothing from Turkey through digital methods. The startup provides services for the digitalization of fashion-oriented wholesale purchases. The startup helps its customers with both shipping and payment points between countries.

The startup ships products to many parts of the world, including Australia, North America, Africa, Europe and the Middle East. The new generation marketplace works with many brands such as Etika, Robin, Fame and Some. Before adding brands to its platform, the Lonca examines their factories in detail. As a result of the reviews, it decides whether or not to add them to its platform.

The startup is trying to expand its supplier base with other wholesale fashion centers. It offers suppliers and boutiques all the infrastructure they need. Thus, it makes their work significantly easier. The Lonca aims to become Europe's wholesale fashion operating system in the future.