Portero summons $6.6M for second-hand luxury goods auctionhouse online
Portero, a web site that auctions off authenticated pre-owned luxury items, announced that it raised $6.6 million in a second round of venture funding from LFE Capital, Compagnie Financiere Richemont and The Grosvenor Funds. Offering more than 180 brands of watches, handbags, accessories, jewelry and more, the site seems to trump itself up as a web-based equivalent of famed auctionhouses Christie’s and Sotherby’s — complete with resident brand and vintage experts. Portero’s verification process is of special importance, apparently, as the market for luxury goods of this caliber is rife with counterfeiting.
This recent investment brings the New York-based company’s total capital to $10 million. It did not say how it planned to allocate the round.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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