The Mainstreet Marketplace, a platform specializing in the resale of sneakers, footwear, and fashion items from global brands, raised $2 million (approximately INR 16 crore) in seed funding from notable investors, angel investors, and social media influencers.
Prominent names involved in the funding round include First Lap LLP, led by Deepinder Goyal, the co-founder of Zomato, Gruhas Proptech, a venture fund by Nikhil Kamath and Abhijeet Pai of Zerodha, and Sujeet Kumar, co-founder of Udaan, among others. The announcement of the funding was made by Vedant Lamba, the founder of The Mainstreet Marketplace, on Twitter.
Initially established as a YouTube channel in 2017, The Mainstreet Marketplace has evolved into an online platform offering footwear and clothing from renowned brands like Nike, Adidas, Crocs, Supreme, and Dior. Operating on a customer-to-business-to-customer (C2B2C) model, the platform enables customers to resell products they own, akin to platforms like OLX or eBay.
Last year, the Mumbai-based startup secured $125,000 in seed funding from angel investors, including Kunal Shah of CRED. The Mainstreet Marketplace earns a commission on the resale of sneakers, which have gained popularity among collectors over the years. The platform features a range of sneakers priced between INR 9,000 and INR 8.25 lakhs, with the majority falling within the INR 9,000 to INR 1.89 lakhs range.
The Mainstreet Marketplace faces competition from other players in the market, including VegNonVeg, Superkicks, Thrifter, as well as individual sneaker resellers.
Vedant Lamba revealed that the startup was self-funded until last year’s pre-seed funding round. With the latest injection of capital, Mainstreet plans to hire senior management, expand its physical presence across India, and enhance the quality of its customer experience. Currently, the platform operates two physical locations, one in Delhi and one in Mumbai.
Lamba stated that The Mainstreet Marketplace aims to tap into the market for status-driven commodities, with sneakers being the initial focus. The platform envisions further expansion and diversification in the future to cater to the demands of its target audience.
