Bandi, the slow fashion app bringing together a community of people who love clothes, and the planet was accepted into Newchip’s renowned global accelerator program. Designed to provide all the skills and tools founders need to rapidly fund, build and scale their companies, past accelerator cohorts averaged more than 17.5 times the average funding amount. The equity-free, fully digital accelerator has helped over 1,500 founders from more than 50 countries and 250 cities raise over $450 million in funding with an estimated portfolio of over $9B.
“Newchip evaluates a diverse number of companies across all industries from around the world, selecting a small percentage to join our accelerator,” says Armando Vera Carvajal, Vice President of Product at Newchip. “This strict selection process makes us an ideal partner for investors looking for promising start-ups. Slow, sustainable fashion companies like Bandi App can scale quickly with proper funding and guidance. We are excited for Bandi App and believe they will do well at Newchip.”
Launched in 2021, Bandi App has built a platform of over 5000 swappers, with 268 people pledging not to buy new as a part of Bandi’s Reuseolutions campaign, and has been featured on ITV This Morning’s slow fashion segment. Bandi App plans to continue this momentum to change the way we consume fashion.
“Being accepted into the Newchip Accelerator, we are excited to connect with investors throughout the globe interested in our industry”, says Francesca Theakston, Co-Founder and CEO. “Raising capital at this point along our journey would mean global scale for Bandi and a bigger opportunity for fighting back against fast fashion.”
Bandi is the female-founded clothes swapping app for conscious consumers launched in September 2021 by sisters Nicole and Frankie Theakston.
With the world producing about 100 billion new pieces of clothing every year, and only 8 billion people on the planet, it’s safe to say we’ve got enough garments to go round. Bandi app allows people to match and swap clothes with others who care about sustainability – all they have to pay is postage. Swap in three simple steps:
1. Create a profile
2. Upload images of the pre-loved items
3. Get swapping.
Join the clothes-swapping movement and download the app!