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Sneaker marketplace The Edit LDN secures $4.8m funding to aid international growth

Tom Bottomley
17 January 2023

Sneaker marketplace The Edit LDN, which was founded by entrepreneur Moses Rashid from his spare bedroom in January 2020, has secured $4.8m in a seed funding round to accelerate its growth in global markets – starting with the US, Middle East and North Africa (MENA).

The global sneaker reseller market has grown into a £30bn industry and is steadily growing 5% year-on-year. Meanwhile, The Edit LDN has grown revenue 500% every year since launch.

The seed funding round was led by Regah Ventures (early investors to Uber, Coinbase and Instacart) with participation from sports celebrities including New York Giants captain Xavier McKinney, NBA superstar PJ Tucker, and Nottingham Forest football player Jesse Lingard, formerly of Manchester United.

Seeing a gap in the market for luxury in the sneaker space, The Edit LDN connects highly engaged buyers with the most premium resellers, offering authenticated items with “a focus on speed, efficiency and experience”. It offers a ‘Same Day Delivery Service’, through to storage facilities for resellers, as well as a proactive seller service through its personal shopping team.

Not only is the The Edit LDN a premium marketplace for limited edition sneakers, it is also now a place to sell and source high end streetwear and collectibles, and it is considered a highly innovative and disruptive platform with its proprietary tech and mobile apps.

Moses Rashid, Founder and CEO at The Edit LDN, said: “We have been laser focussed on providing a premium service, and doing this super-fast for anyone buying limited edition sneakers globally.

“This was an unmet need in the sneaker community and our growth success is testament to how we are conquering this. Having built relationships with brands, celebrities and consigners, we can secure the most sought after products by clients.

“Our robust authentication process and detailed supply chains has helped to grow trust and love for the brand, and we will double down on our tech stack to ensure we are ahead of the curve to source, offer and send the latest sneakers to anyone, anywhere in the world, quickly.”

2022 business highlights: 

  • Signed a two year global partnership agreement with the Chicago Bulls, the sports world’s biggest franchise.
  • Became the first sneaker marketplace to offer ‘Same Day Delivery Service’ in the UK, with plans to offer this in five new countries in 2023.
  • Having launched as the first reseller in Harrods in 2021, The Edit LDN has expanded its square footage in the world famous department store.
  • Launched a new concession space in Galeries Lafayette in Doha in November 2022.
  • Signed an agreement with Harvey Nichols to launch in Riyadh in February 2023.
  • The Edit LDN was the first global sneaker platform  to enter the Metaverse via Bloktopia, along with being the first to accept Crypto payments.
  • Sustainability initiatives have included the launch of ‘PreLoved Marketplace’ in November 2022, and the company has invested in technology that converts cardboard boxes into bubble wrap.
  • Expanded the team from 18 to 45 people, including adding a Financial Director who joined from StockX.

Rashid added: “The limited edition sneaker market has reached the intersection between a fashion or cultural trend and a commodity as more buyers see purchases as an investment asset class. We’re noticing customers are creating collections and making up to five purchases a month, at a typical value of $430 per transaction.”

On leading the seed funding round, Mark Hager, CEO at Regah Ventures, commented: “We are backing The Edit LDN to be the most disruptive and innovative global marketplace for limited sneakers, streetwear and collectibles. With unique market positioning, celebrity endorsements, and the powerful brand they have built in a short space of time, it is a really exciting business.

“We have every confidence in Moses and the wider management team to turn this into a $1billion-plus business quickly, and we at Regah Ventures are delighted to be a part of the journey”.

Listen to's podcast with Moses Rashid, Founder and CEO at The Edit LDN.

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