Novelship
Singapore, SG · Founded 2018 · 32 employees on LinkedIn · 5 known investors
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Novelship is a marketplace for authenticated sneakers, apparel, and collectibles, connecting buyers and sellers globally with verified products and secure payment processing.
Also known as Novelship Pte Ltd
Founders & leadership
Novelship was founded in 2018 by Yang Xia.
Investors · 5
Also in the syndicate · 1
Funding
SEC filings, press & company announcements$9.5M disclosed across 1 of 4 rounds · 2019–2023
- $9.5MSeries BSep 2023 · 3 sources
East Ventures (lead), GSR Ventures, iGlobe Partners
Source ↗ - Undisclosed amountSeries AMay 2022Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Novelship is a Singapore-headquartered online marketplace where buyers and sellers trade sneakers, streetwear apparel, accessories and collectibles. Sellers ship items to Novelship, where an in-house operations team inspects and authenticates each product before it is forwarded to the buyer; buyers can also elect to have purchases held in the company's storage facilities instead of delivered. The catalogue spans major athletic and lifestyle footwear brands including Nike, Jordan, Adidas, New Balance, ASICS, Onitsuka Tiger, Puma, Converse, Vans, Crocs and Li-Ning, alongside apparel categories such as tops, outerwear, bottoms and headwear, and collectibles including Pop Mart figures and Bearbrick.
The platform is offered through a website and mobile app in multiple languages (including English, Bahasa Indonesia, Malay, Korean, Japanese, Chinese and several European languages) and with localised storefronts for markets across Asia-Pacific, Europe, North America and the Middle East. Beyond marketplace listings, Novelship runs a news/editorial section and has introduced its own branded merchandise such as T-shirts, socks, shoelaces and shoe sole protectors. The company states it is ISO 27001:2022 certified for information security management and works with third-party payment providers for buyer payments and seller payouts.
Founding story
Co-founders Richard Xia (CEO) and Chris Xue (COO), friends since school who later attended the National University of Singapore together, started the company in October 2018 after two earlier unsuccessful ventures. Motivated by Xue's interest in sneakers and the NBA and Xia's interest in streetwear, and by the prevalence of scams and counterfeits when buying limited-edition items from strangers on social platforms and forums, they bootstrapped the business by selling their personal Bape streetwear and Air Jordan collections to raise roughly S$10,000–S$20,000. The name combines "novel", meaning original or unique, with "ship".
Business model
Novelship operates a two-sided marketplace connecting sellers of sneakers, apparel and collectibles with buyers, intermediating each transaction through centralised authentication and fulfilment. It also sells its own branded accessories and offers post-purchase storage of items in its facilities.
Revenue is generated from transactions intermediated on the marketplace; the company reported crossing US$1 million in monthly revenue in 2020 and a 37% revenue CAGR as of 2023.
Traction
By November 2020 the company reported over 40,000 users, more than 10,000 sales in two years, about 100 pairs of sneakers transacted per day and monthly revenue exceeding US$1 million. By November 2021 it had about 60 employees, five processing centres and six Asia-Pacific markets. Investor materials in 2023 cited a 37% revenue CAGR, 55% transactions CAGR, roughly 150% listing growth in fiscal 2022 including a 140% rise in women-centric SKUs, and a user base described as doubling annually.
Latest developments
In 2023 Novelship closed a US$9.5 million Series B led by East Ventures alongside iGlobe Partners and GSR Ventures, collaborated with Snoop Dogg (also named a strategic advisor), launched in-house branded accessories, expanded women-centric assortment, shifted to 100% recycled delivery boxes from June 2023, and planned participation in Sneakerland Australia in November 2023. Company material published in 2025 cites ISO 27001:2022 certification and 500,000 sneakers sourced directly from authorised retailers and brands.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Described in investor and press materials as one of Asia's fastest-growing sneaker and streetwear marketplaces, positioned against international platforms such as GOAT and StockX and regional classifieds platforms such as Carousell, with its regional network, localisation and authentication expertise cited as points of difference. It has been featured in outlets including GQ, Tatler, Harper's Bazaar, Nasdaq, Nikkei and CNA.
Novelship positions itself on end-to-end authentication of every traded item, a regional network with local-currency transactions and localised customer support, global sourcing intended to widen selection and pricing, and information-security certification.
Technology
The marketplace runs a website and mobile app with multi-language and multi-market configurations. Authentication combines trained in-house experts, detailed physical checks and technology the company describes as proprietary; the platform integrates third-party payment providers and is ISO 27001:2022 certified.
Go-to-market
The company uses a hyper-local market-entry approach, offering local-currency transactions, localised customer service and country-specific storefronts and languages, supported by its website and app, editorial content, customer reviews, social media advocacy and event participation such as Sneakerland Australia.
Sneaker, streetwear and collectibles enthusiasts and collectors — from long-time collectors to first-time buyers — including a growing female customer segment, plus individual sellers and resellers.
Geography
Headquartered in Singapore, with early markets in Southeast Asia including Malaysia and Indonesia, later expansion to Australia and New Zealand, and site storefronts covering markets such as Singapore, Malaysia, Indonesia, Thailand, Vietnam, the Philippines, Hong Kong, Taiwan, China, Japan, South Korea, Australia, New Zealand, the United States, Canada, the United Kingdom, Ireland, France, Germany, Italy, the Netherlands, the United Arab Emirates, Saudi Arabia and Kuwait.
History
Novelship launched in October 2018 as a bootstrapped startup serving Asian sneaker and streetwear buyers. In August 2019 it raised US$2 million led by Global Founders Capital to expand into regional growth markets. Expansion campaigns in Indonesia and Malaysia in early 2020 were disrupted by COVID-19 logistics cutoffs and Singapore's circuit breaker, but online demand rose and the company reported its first US$1 million monthly revenue in 2020, with about 40,000 users and 40 staff. By late 2021 it employed around 60 people, ran five processing centres and operated in six Asia-Pacific markets. In September 2023 it announced a US$9.5 million Series B led by East Ventures with iGlobe Partners and GSR Ventures, following a collaboration with Snoop Dogg and the launch of in-house branded products.
Risks & controversies
The business depends on reliable cross-border logistics and on the accuracy of its authentication process in a category exposed to counterfeit goods; the COVID-19 pandemic cut logistics lanes into Indonesia and Malaysia shortly after launch campaigns there and disrupted warehousing in Singapore, which the CEO described as the company's biggest challenge to date. It competes with larger international marketplaces such as GOAT and StockX.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 8
launches, deals, and filingsNovelship states it is ISO 27001:2022 certified for information security management.
Novelship announced it would take part in Sneakerland Australia in November 2023.
Novelship announced a US$9.5 million Series B round led by East Ventures with iGlobe Partners and GSR Ventures, earmarked for brand presence across Southeast Asia, logistics, authentication, in-house collections and delivery processes.
$9.5M source ↗
Novelship collaborated with rapper Snoop Dogg to expand its collection; Snoop Dogg is also described as a strategic advisor to the company.
Since June 2023 the company has used 100% recycled materials for its delivery boxes across all markets.
Novelship launched Novelship-branded T-shirts, socks, shoelaces and shoe sole protectors.
Novelship extended beyond Southeast Asia into Australia and New Zealand, which the CEO said produced an immediate increase in revenue.
The founders secured US$2 million (S$2.7 million) led by Global Founders Capital to expand into high-growth markets in the region; the company dates most of its growth to post-funding in August 2019.
$2M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Novelshipnovelship.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Novelship do?
- Singapore-based online marketplace for buying and selling authenticated sneakers, streetwear apparel and collectibles.
- Who founded Novelship?
- Novelship was founded by Yang Xia in 2018.
- Who are Novelship's investors?
- Novelship's investors include iGlobe Partners, K3 Ventures, East Ventures, GSR Ventures.
- How much funding has Novelship raised?
- Novelship has disclosed $9.5M raised across 1 of its 4 known rounds.
- Where is Novelship headquartered?
- Novelship is headquartered in Singapore, SG.