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I am happy to announce that Portero has raised $6.6 million in funding. The round was led by LFE Capital joined by returning backers including Grosvenor Funds. TechCrunch picked up the announcement early this morning and featured us on their home page. As I have a bit of an insiders view, I felt it was my place to provide a bit of insight into why Portero is such a great company.

Portero is the Leading Authentic Luxury Marketplace providing a trusted place for consumers to find and buy luxury items. Portero accomplishes this by operating a fast growth market platform that facilitates sales of luxury items by offering individuals, dealers, vendors and brands a unified selling platform that maintains brand and item integrity and the assurance of authenticity.  Items on Portero.com include pre-owned (often in original packaging) and vintage.  All are certified and guaranteed authentic with a focus on watches, accessories, handbags, jewelry and art.

Portero's Value

• Assurance that all items are authentic in a world of fraud, counterfeit or fake,  trust, credibility is important.
• Consolidating a disparate market into one place to easily explore a wide set of goods.
• Providing a place where one can sell goods in a environment that holds the integrity (value) of the branded luxury item.  Consumers, vendors and brands.

Recent Press

November 20, 2008
Want Designer Goods Below Retail Price?
NBC

October 28, 2008
Luxury Institute's Wealth and Luxury Trends -- 2009 and Beyond
Market Watch

"the traditional luxury industry has been slow to adopt Web 2.0...Meanwhile, innovators such as..., Portero, are gaining traction ...by aggregating categories of bespoke luxury designers and producers in one-stop-shop destinations."

October 24, 2008
Cash Is the New Black
Newsweek, Jessica Ramirez
"It's [shopping on Portero] so much more advantageous than going into a retail boutique when you consider the caliber of what you're getting [bought a Cartier watch for $9.135, retail price is $23,000], it's a no-brainer."

October 23, 2008
Discount Luxury for Sale as Recession Looms
BusinessWeek, Jane Porter
"(people) are auctioning off their bling on sites like Portero.com. In the last three months, Portero, which guarantees the items aren't knockoffs, has been inundated with Tourneau watches, Hermès handbags, and stacks of gold jewelry."

June 5, 2008
Verdict Against eBay in Counterfeit Suit Leaves Consumers Reeling Portero.com
PRNewswire

“Milton Pedraza of the Luxury Institute stated, "Portero's authentication model is a necessity in order to protect both consumers and manufacturers from being victimized by counterfeit merchandise."”