Founders Milan Daniels and Max Klijnstra, who first met in primary school, confronted the excess inventory challenge when they built Breaking Rocks, an internet meme-based clothing brand. Despite the overwhelming success of the business, which they sold in 2015, they found themselves with over €100,000 worth of stock in their warehouse. The problem prompted them to create Otrium. The pair have since been garnered recognition, including making the 2019 Forbes Magazine 30 under 30 list for the best entrepreneurs.
Outlet disruptor Otrium has raised € 7 million ( $ 7.8 m ) in a funding round led by Index Ventures , backer of Asos and Google . Index partner Danny Rimer joins the board . Otrium has a data - driven model for selling excess inventory delivering higher margins and giving brands more autonomy and flexibility . The platform enables them to have full control over price - fixing , merchandising and distribution while avoiding competition with their own new - season offerings . Otrium has more than 100 brand partnerships . Victor Knapp founder of Mediamonks and Peter Gehring and Ludo ##vic , former CEO and CFO of Tommy Hilfiger Global were earlier partners .