The children’s apparel market is estimated to be just shy of $180B per annum. Children outgrow their clothes rapidly; 183M articles of clothing are outgrown each year. Swoperz is a membership marketplace that allows children to swap clothing with other kids through its online platform. This mission-focused new entrant in the circular economy hopes to improve the environmental impact of the fashion industry, which is notorious for excess waste. The marketplace targets children ages 6-16 and they are given unlimited access and swapping privileges for only £14.99 a month. Each item listed and sold on the platform earns tokens that can then be used to purchase other items on Swoperz. Parents can rest assured as they have full control over their child’s accounts and all accounts are age-verified using leading authentication technology. Swoperz instills a sense of the importance of sustainability in children from a young age while doing something that they enjoy and are engaged in.
London TechWatch caught up with Swoperz Cofounder Charlene Hurlock to learn more about the business, the company’s strategic plans, recent round of funding, and much, much more…
Who were your investors and how much did you raise?
Swoperz, the pre-loved marketplace “run by kids and managed by grown-ups”, has secured £250,000 in a pre-Seed round led by early-stage venture capital firm Jenson Funding Partners.
Tell us about your product or service.
Swoperz is a subscription-based marketplace costing £14.99 a month. It empowers children in their clothing choices whilst being environmentally friendly as they can swap great quality, pre-loved clothes as many times as they like. Children are reimbursed with tokens when they upload an item and can use these tokens to “pay for” a different item on the platform. The user-verified environment allows children to swap in safety.
What inspired the start of Swoperz?
The global fashion resale market was valued at $182.4Bin 2022, as second-hand clothing has become popular among all age groups. However, pre-loved options for children are limited, from the quality of clothes available to the choices in style. This lack of options can lead to overconsumption of fast fashion as families struggle to keep up with growing children’s need for new clothing, often buying new clothes, which is expensive and harmful to the environment
During the support bubble period of lockdown, we noticed that our children loved swapping clothes and sharing wardrobes when visiting each other’s homes. After seeing how this empowered our children to celebrate their own style and think more about the environment, we realised second-hand clothing options were limited for children under the age of 16.
How is it different?
Swoperz differs from traditional resale platforms is that it is a swapping platform and the end user is primarily children.
Swoperz is the only preloved marketplace where kids are in control. And because our members pay a monthly subscription for unlimited opportunities to swap, we’re saving grownups with growing kids time and money every day.
What market you are targeting and how big is it?
The global fashion resale market was valued at $182.4 billion in 2022, as second-hand clothing has become popular among all age groups.
The target market is for Swoperz is kids aged 6-16 years
What’s your business model?
Swoperz is a subscription-based marketplace costing £14.99 a month.
How are you preparing for a potential economic slowdown?
Dressing growing kids requires a lot of time and money. We promise to keep our monthly subscription low so everyone can be part of the swapping revolution.
We promise to make our community accessible so that everyone can join the swapping revolution. Swoperz offers all kids the chance to exchange preloved school uniforms for free within our community, relieving parents of one more expense.
What was the funding process like?
When it comes to entrepreneurship, one of the myths and misconceptions is that finding the first round of funding is challenging, and it may have to come from numerous pools of investors. One of the biggest myths is the idea that entrepreneurs must have an extensive network or a little black book to start with to find funding an overnight success.
With Vicky’s (cofounder) 15 years of experience as a stay-at-home mum, actively participating in the school PTA, and my experience of global exhibitions sales dealing with global brands, we knew that they had the expertise to bring Swoperz to life, they just needed to extend their network.
With hard work, perseverance, and countless networking events we began to build our network and attracted many advisors who were willing to help (unpaid) through their persistence and tenacity. It was through these networks that we discovered our tech team and marketing advisors. Through our new connections, we were introduced to Jenson Funding Partners.
The investment journey was a relatively quick one in comparison to other startups and in a short 8/9 months secured £250,000 in a pre-Seed round led by funding partner, Jenson Funding Partners.
What are the biggest challenges that you faced while raising capital?
Finding an investor that understood the vision.
What factors about your business led your investors to write the cheque?
Sarah Barber, CEO of Jenson Funding Partners, says: “Swoperz is a sustainable solution that is having a positive impact on the environment by decreasing overconsumption of clothes, an industry that is notoriously wasteful. It’s also empowering children to express themselves through style, which is amazing to see. When children have so much independence in other aspects of their lives, such as by owning their own bank card or purchasing products online, it only makes sense that Charlene and Vicky have created a safe environment for children to enjoy clothes without breaking their parents’ budgets, or putting further strain on our planet.”
What are the milestones you plan to achieve in the next six months?
The funding will be used to further build a robust, scalable platform that is a safe, online-verified environment for the next generation.
The funding will be used to further build a robust, scalable platform that is a safe, online-verified environment for the next generation.
What advice can you offer companies in London that do not have a fresh injection of capital in the bank?
Think outside the box to validate your idea. Become a serial networker and surround yourself with people that will support you on your journey.
Where do you see the company going now over the near term?
Swoperz is committed to building a platform that prioritises safety and security. It has partnered with TrustElevate, the only secure, accurate, and privacy-preserving provider of child age verification and parental consent to create an age-appropriate safe space for children and their families. Dr Rachel O’Connell, a leading expert on online child safety and Founder and CEO of TrustElevate is delighted to partner with Swoperz.
Swoperz will also allow children across the UK to swap their pre-loved school uniforms free of charge, without requiring a subscription, so adults will have one less expense to worry about whilst protecting the environment. Founders Hurlock and Fuller are passionate about helping families save money and protect the environment and know that school uniform can be a large yearly cost. Swoperz plans to develop these partnerships to create hubs for swapping school uniforms and sports kits, as well as creating pop-up swap shops throughout the country
What’s your favorite coffee shop or location to hold a meeting?
100 Blooms Yard London – very chilled.
