Twig Group Ltd is pleased to announce the acquisition of Loopster Ltd, a second-hand clothing marketplace for an u********** 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.
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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’.
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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.’
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.
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