Croissant announced it has raised $28 million in capital to accelerate growth and deepen partnerships with leading brands and retailers, bringing its total capital raised to $52 million. The round includes $14 million in funded proceeds and $14 million in incremental debt capacity. Existing investors Portage, Third Prime, and George Roberts led the equity component of the raise.
The company said the proceeds will be used to acquire new shoppers on behalf of brand partners and to pre-fund the demand that Croissant drives to those partners. Croissant describes the result as a multi-faceted engine that combines new customer acquisition, increased lifetime value, and a differentiated way for brands to finance their operations.
To date, Croissant has driven more than $50 million in gross merchandise volume across over 100,000 users. The platform partners with brands and retailers, including Nordstrom, Revolve, Reformation, and SSENSE.
Croissant positions itself as a pioneering “intentional commerce” model, aiming to shift consumers away from impulsive shopping toward purchases with long-term value in mind. Shoppers receive 10% back immediately on every purchase at partner brands, along with guaranteed future resale prices. The company says this structure encourages consumers to invest in higher-quality goods that hold value over time while aligning incentives between shoppers and brands.
A central component of Croissant’s model is pre-funding demand for brand partners. By predicting how much its shoppers will spend with each brand, Croissant provides upfront capital backed by anticipated future revenue. The company said this capital comes with no interest or fees, and brands do not repay Croissant in cash. Instead, they fulfill future orders when Croissant shoppers redeem their credit.
Croissant says this approach creates a new form of commerce infrastructure that simultaneously drives customer acquisition, increases lifetime value, and provides non-dilutive operating capital to brands.
With $52 million raised to date and growing platform momentum, Croissant said its mission is to build a more intentional and economically vibrant future for commerce.
KEY QUOTES
“Croissant is building infrastructure that transforms future consumer demand into immediate, non-dilutive capital for brands and retailers.”
Stephanie Choo, General Partner And Co-Head At Portage Ventures
“We’ve built an ecosystem that works. Shoppers love unlocking value by buying better. Brands love acquiring customers who think long-term. Now we’re pouring fuel on the fire. For brands, customer acquisition costs are rising, and loyalty is fragile. For shoppers, purchasing higher quality goods that retain value is the smartest financial and lifestyle decision – but hasn’t been adequately incentivized to date. Croissant connects those dots. We drive high-intent demand to brands, reward customers for shopping and reselling, and create a healthier cycle of commerce. This funding allows us to scale that engine.”
John Howard, Founder And CEO Of Croissant
“Croissant is building infrastructure that transforms future consumer demand into immediate, non-dilutive capital for brands and retailers. Their combination of data, embedded finance, and ecosystem alignment positions them to build a highly scalable platform reshaping how value flows through commerce.”
Stephanie Choo, General Partner And Co-Head At Portage Ventures
