eBay boosts Circular Fashion Fund with a $1.2M global investment by 2025

eBay Australia has announced the global expansion of its Circular Fashion Fund (CFF) to support fashion start-ups in scaling circular solutions, including rental and repair services. Applications are open until November 15 2024, for innovative tech start-ups, small businesses, social enterprises, and charities via eBay’s site.

Since the UK launch in 2022, the CFF has helped 15 businesses, including three Australian recipients: Dempstah, RCYCL, and The Very Good Bra.

The CFF will invest $1.2 million USD globally by 2025 and offer over 200 hours of mentoring and networking. eBay Ventures will also award one market winner with an additional investment of $300,000 USD as the “Circular Fashion Innovator of the Year.” 

eBay Australia and other global markets aim to create an international network of circular fashion businesses to promote a more sustainable future.

eBay Australia’s Fashion Lead, Anne-Marie Cheney, said: “The Circular Fashion Fund exemplifies the power of collaboration and innovation between companies like eBay and fashion start-ups. By uniting our resources and expertise, we’re scaling circular fashion businesses to help build a more sustainable future and reduce clothing going to landfill.”

In collaboration with the Australian Fashion Council (AFC), the Fund is set to begin its second year in Australia. The winner will be awarded a cash prize of $100,000 AUD, while the two runner-ups will each receive $50,000 AUD. Additionally, all three finalists will benefit from personalised mentoring sessions, educational workshops, and networking opportunities. A panel of industry experts in fashion, academia, and sustainability will determine the winners. This panel includes:

• Jaana Quaintance-James, CEO Australian Fashion Council
• James Chin-Moody, Founder and CEO of Sendle
• Dr Lisa Lake, Director of the Centre of Excellence in Sustainable Fashion & Textiles, UTS
• Rosanna Iaconno, CEO, The Growth Activists
• Danielle Kent, General Manager Industry Transformation, Seamless 
• Liandra Gaykamangu, Founder, Liandra
• Bernadetter Olivier, Founder and CEO, The Volte
• Henri Jaanimagi, Global Head of eBay Ventures & Strategic Partnerships
• Rebecca Newton, Chief Marketing Officer & Director of Category at eBay Australia
• Anne-Marie Cheney, Fashion Lead eBay Australia 

Guy Dempster, founder of Dempstah and 2024 CFF winner in Australia, said: “Winning the Circular Fashion Fund has been amazing over the past six months. It allowed us to attend major events globally, start new collaborations, and invest in manufacturing machinery. We’ve also engaged with key government and textile industry stakeholders in Australia, eager to support and guide us towards more funding and development opportunities.”