NewSpring Growth led a $38m Series B round in Fashionphile.

NewSpring Growth, the dedicated growth and expansion strategy of private equity firm NewSpring, led a $38m Series B round in Fashionphile, a pre-owned e-commerce company focused exclusively on ultra-luxury handbags, watches and fine jewelry. "Over the past 20 years we've developed the largest luxury inventory in the industry, created cutting edge recommerce technology, and have led the way in authentication excellence. We're now excited to put the funds from this raise to work to increase awareness and introduce more luxury shoppers to Fashionphile and the joys and benefits of the circular economy," Ben Hemminger, Fashionphile CEO.