LONDON--(BUSINESS WIRE)--Twig Group Ltd is pleased to announce the acquisition of Loopster Ltd, a second-hand clothing marketplace for an undisclosed amount.
Twig is a London-based, next generation fintech and banking app that allows users to trade their fashion or electronic items for instant cash.
Loopster, the first managed marketplace in the UK, developed a streamlined approach in buying and selling secondhand fashion by paying users upfront in exchange for their unwanted clothes.
Through the strategic synergy across the two businesses, Twig aims to incorporate the Loopster expertise by further fine-tuning and elevating the service to its users, powered by the circular economy.
Loopster will be incorporated into Twig and will be able to offer its customers the next generation of circular services.
Geri Cupi, Founder and CEO, said:
''I welcome Loopster and Jane into our Twig family. Together, with our circular economy focus and joint expertise in the market, we are excited to deliver the next generation of resale; one that is green and furthermore combines with banking and personal finance seamlessly'.
Jane Fellner, Founder of Loopster, mentions:
'We are thrilled to partner with Twig and contribute together to our joint vision of reimagining resale and wealth in one solution. I am excited about fulfilling this mission, and we look forward to delighting our customers. Our Loopsters will have a lot more wonderful innovative solutions coming their way.'
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Notes to Editors
Twig is a London, UK-based new generation fintech, rooted in circular economy principles It’s mission is to empower consumers to value, unlock and enjoy wealth that they never knew they had. Clients have instant cash access while relinquishing fashion or electronic items they no longer want. As a part of its unique proposition, Twig is now offering carbon offsetting service, making it possible for its clients to offset their entire lifestyle carbon footprint.
All of this is in addition to enjoying traditional banking service benefits (debit card, domestic and international bank transfers). Twig powers the circular economy, making Twig a positive and compelling environmentally conscious choice for the consumer. Twig is committed to making a positive impact to the environment and it is currently officially pending B Corp status. Twig recently released a white paper: How Twig Cracks the Future of Ownership and Empowers Gen Z to Live a Circular Lifestyle available to download: https://twigcard.com/white-paper
About Geri Cupi, Founder and CEO of Twig Group
Geri Cupi was listed as a Forbes 30 under 30 for Retail and Ecommerce in 2020. A serial entrepreneur, Geri founded Twig consequentially, after gaining expertise in blockchain, re-commerce, and circular economy-driven practices. Concurrently, Geri is the co-founder of MonoChain, a blockchain-based platform powering re-commerce and product provenance solutions for the brand and retailer ecosystem.
Previous to this, Geri has built two start-ups:, Jook and Social DNA (which was acquired by Levi’s). In addition, Geri supports academic endeavours, acted as a visiting lecturer at the University of Bath and Edinburgh, as well as UCL. in 2018, he has co-authored the ‘Commercialising Blockchain’ book, with a mission to demystify blockchain, demonstrating its value and usage through a plethora of applied cases such as NFT use cases.
Loopster was a managed marketplace which sold premium quality, hand-checked women’s and kids’ clothes at a fraction of the retail price. It also did all the hard work for Sellers, sending a Loopster Clear Out Bag, so that sellers could close the loop between the use and reuse of their clothes with minimal hassle.
About Jane Fellner, Founder of Loopster
Loopster was founded in 2017 by Jane Fellner, previously an award winning investigative filmmaker for the BBC and Channel 4. She learnt about the dark side of fashion when she went undercover in Bangladesh to make a film about child labour making clothes for a major retailer. Then when she became a mum, she didn’t have time to shop or sell second hand for her son, so she decided to develop her own solution, Loopster.