Nysnø, Bring and eBay invest NOK 200 million in Tise

– On Tise, millions of users are inspired to shop second-hand, save the environment, and reduce their climate footprint – and the next generation is leading the way. Tise’s social, digital platform will create lasting change in how we shop, says Lene Hodge, Investment Manager at Nysnø.

The textile industry accounts for 10% of the world’s greenhouse gas emissions, with far-reaching consequences for water use, pollution and waste generation. According to McKinsey, every fifth garment must be traded through a circular business model to reach the 1.5-degree target by 2030. By 2025, the global market value of second-hand clothing could double to over USD 200 billion.

With over one million registered users in Norway and 2.5 million combined in the Nordics, Tise is a leading marketplace for second-hand clothing and interiors. The company is now ready to enter new European markets and has raised NOK 200 million from Nysnø Climate Investments, Bring Ventures, eBay Ventures and existing investors.

– We are very proud of being able to attract such strong and relevant partners. Through Bring Ventures, we will gain a unique insight and expertise within logistics and shipping. Together with investment from Nysnø – the state-owned climate investment company – we strengthen our sustainability mission. eBay is one of the world’s leading marketplaces with a remarkable scale of 142 million buyers and over 1.6 billion live listings globally and has a fantastic network and insight. We are very pleased with this investor mix and look forward to continuing the work with new and existing investors and partners, says Eirik Rime, CEO of Tise.

Tise makes it easy to buy and sell second-hand items, with integrated logistics and payment solutions for a safe user experience. Since its launch in 2016, over 6.5 million items have been sold through Tise.

– With this capital raise we will strengthen our position further in the Nordic markets and expand our reach to enable even more people to see the great benefits of buying second-hand instead of new. We also look forward to seeing growth opportunities beyond the Nordics, says Rime.

– With their strong brand and technology, Tise has a unique starting point for further growth in the Nordic region and Europe. The Tise team is talented and driven, and we look forward to collaborating further with the company and co-investors, says Lene Hodge.

Contact
Eirik Rime, CEO of Tise – eirik@tise.com
Lene Hodge, Sustainability Manager at Nysnø – lene@nysnoinvest.no phone: +47 952 33 631

About Tise
Established in 2014 by Eirik Rime and Axel Franck Næss, Tise is a marketplace for second hand that aims to make it easy, fun and inspiring to buy and sell second hand. You can – as on Instagram – like, chat and add filters and text, as well as follow other people’s profiles. The community has grown tremendously and now has over 2,500,000 registered and 150,000 daily users that spend an average of 17 minutes every day. Tise and their highly engaged community, aims to make the world more sustainable by giving clothes multiple new lives.

About Nysnø Klimainvesteringer
Established in 2017, Nysnø Climate Investments (Nysnø) is a state-owned climate investment company that invests in companies and funds with profitable and smart solutions to reduce greenhouse gas emissions. With 2,9 billion NOK in assets under management Nysnø invests within clean energy, digital and enabling technologies, resource efficiency, sustainable demand, and the circular economy. Nysnø is based in Stavanger and owned by the Norwegian Ministry of Trade, Industry & Fisheries.
www.nysnoinvest.no/en