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Twig, a London-based fintech that offers Gen Z and younger millennials an e-money account that allows them to receive immediate cash-outs on clothing and devices they want to sell, has raised $35 million in a Series A round of funding.
The investment is led by Fasanara Capital, a fintech specialist located in the United Kingdom, with support from several unknown strategic investors, including current and former executives from LVMH, Valentino, and Goldman Sachs, among others to Twig.
The company was just created in mid-2020. Its service started in the United Kingdom last July, but it boasts strong domestic growth (100,000+ monthly app downloads; sixth place in the iOS App Store’s top finance apps); and is already planning international development.
The Series A is expected to launch in the United States (in Q1 this year) and the European Union (in Q2; Italy, France, and Germany). Also, to enhance the product’s capabilities and feature set, focusing on web3 and digital collectibles.