eBay Expands Circular Fashion Fund Globally with $1.2 Million Investment for Startups by End of 2025

eBay has announced the global expansion of its Circular Fashion Fund, which is designed to help fashion startups scale circular solutions, from production to end-of-life, including rental and repair services.

Applications are open until November 15 and the company invites “small businesses and innovative technology companies” to apply through its website.

The fund, which is supported by the British Fashion Council, was first launched in the UK in 2022 and has so far helped 15 companies scale their circular solutions. They include care and repair expert The Seam, and at-home fashion recycling program for unwearable clothing RCYCL.

It will now launch in the US and Germany after “successfully” expanding to Australia last year.

eBay said the expansion of the CFF “extends its reach to invest in companies that bring new technologies and services to the market and help people think and shop differently. eBay is transforming the buying and selling experience so that more brands, sellers and buyers can participate in a circular way.”

So what are the details? The CFF will provide a global investment of $1.2 million to startups in relevant markets by the end of 2025, and more than 200 hours of mentoring and networking support for applicants from industry experts.

eBay Ventures will also choose one winner from the global selection of finalists to become “Circular Fashion Innovator of the Year” and receive a $300,000 investment.

In the UK specifically, the winner will receive a cash prize of £50,000, while the two runners-up will receive £25,000 each. The three finalists will receive personalized mentoring sessions, educational workshops and networking opportunities.

Judges will include industry leaders such as BFC director Caroline Rush, The Fitting Room founder and CEO Charlotte Mair, My Closet HQ president Jane Shepherdson and others.

Kirsty Keoghan, global managing director of fashion at the US-based e-commerce giant, who is also a judge, said: “The Circular Fashion Fund is a catalyst for collaboration by combining the global scale and power of established companies like eBay with the creativity and innovation of agile startups. We not only help scale circular solutions, but we also bring together the most knowledgeable and respected experts in the industry. Together, we are making a positive impact on the circular economy and truly reshaping it. the future of fashion.”

And last year's winner in the UK, Vicky Fuller, co-founder of Swoperz (which offers a child-led clothing exchange service) added: “Winning the Circular Fashion Fund has been transformative. “It allowed us to partner with new organizations and helped us bring sustainable fashion education to classrooms across the country and organize swap shops in 500 schools.”