eBay Inc. has announced the global expansion of its Circular Fashion Fund (CFF), aimed at supporting fashion start-ups focused on circular solutions such as rental and repair services. Applications are open until 15 November 2024, with eligible tech start-ups and small businesses invited to apply via eBay’s website.
Originally launched in the UK in 2022, the CFF has since backed 15 businesses, including The Seam and RCYCL, in scaling sustainable fashion initiatives. In its third year, the fund extends to the U.S. and Germany, building on its success in Australia. This expansion aligns with eBay’s commitment to promoting the circular economy and transforming how fashion is bought and sold.
By the end of 2025, the Circular Fashion Fund will invest $1.2 million globally in start-ups, providing over 200 hours of mentoring and networking with industry experts. eBay Ventures will also award one finalist the title of “Circular Fashion Innovator of the Year,” along with a $300,000 investment.
Kirsty Keoghan, eBay’s Global GM of Fashion, stated, “The Circular Fashion Fund is a catalyst for collaboration, combining eBay’s global reach with the creativity of innovative start-ups. We are not just scaling circular solutions but uniting industry leaders to reshape fashion.”
Steven Kolb, CEO of CFDA, added, “eBay’s Circular Fashion Fund champions sustainability and reflects CFDA’s commitment to reducing fashion’s environmental impact. Their investment in innovation and education, and their leadership in driving the circular agenda, are crucial for fostering positive change.”
In addition, eBay recently succeeded in having a U.S. Environmental Protection Agency (EPA) lawsuit dismissed. (1)