The e-commerce platform selling Asian fashion brands to Japanese consumers has raised 460 million yen ($3.1 million) in a series A funding round led by the Tokyo-based corporate venture arm of Yamato Holdings. Verbal, a musician and co-founder of Japanese fashion brand Ambush, participated in the round as a minority investor and will take on an advisory role in the firm.
Founded by Nanae Matsuoka in 2019, Sixty Percent Co. Ltd sells around 1500 brands from 10 Asian countries on its cross-border platform Sixty-Percent.com, including South Korea’s Acme de la Vie, Indonesia’s Compass and Thailand’s Carnival Bkk. Many labels are focused on the Gen Z youth demographic and streetwear style.
In two previous rounds, the company raised 150 million yen ($1 million), through seed and pre-series A funding. The latest investment, consisting of equity funding and debt financing, will be used to expand the business domestically and internationally. SixtyPercent plans to release an English-language version of the site in March to offer products through a global marketplace model, said Matsuoka in a statement.
Until now, Kuroneko Innovation Fund has mainly targeted start-ups in the tech, logistics and supply chain management sectors.
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