Tennis legend Serena Williams is backing a new idea in fashion. Her venture capital firm, Starfire Ventures, has led a $3 million seed round in Trace, a “presale” marketplace that lets shoppers find buyers or renters for clothes before they even buy them.
Shakti VC also took part in the round. Trace was co-founded by Katie Pfleger and Ella Rubin, both graduates of Harvard Business School.
“Trace is transforming the way people shop,” Williams said, according to fashion trade publication WWD. She said her firm backed the company because of the size of the market, its business model and the strength of its founders.
How Trace Works
Traditional resale and rental platforms start with items people already own. Trace flips that model around. “Traditional rental and resale marketplaces largely start with items people already own, then find demand,” the founders said.
On Trace, a shopper who is thinking about buying a new item pastes the product link into the app. Its AI tool then creates a listing in under 10 seconds. Other users can “call” the item, agreeing to rent or buy it from the lister at a set price and date. The caller only pays once the lister accepts, and the original shopper then buys the item new from the retailer.
The idea is that shoppers can cover part of the cost of a new piece before they buy it, while others get access to fashion at a lower price. The company says this is a more sustainable way to manage a wardrobe, as clothes get more use instead of sitting unworn.
Fees and Early Traction
Trace makes money through fees on each transaction:
- Resale: buyers pay a 10% service fee plus a $3 protection fee. Listers pay no commission.
- Rental: renters pay a 10% service fee plus a protection fee of $5 to $12, depending on the item’s value. Listers pay a 15% commission.
During its beta phase, fewer than 300 users listed more than 500 items, according to reports. About 32% of users listed an item when they signed up, and seven in 10 “calls” were for rentals. The app launched publicly this month with a weekend pop-up at Shopify’s store in SoHo, New York.
The Founders
Katie Pfleger previously worked at Etsy, the online marketplace for handmade and vintage goods. Ella Rubin helped launch Walmart’s online grocery business. Their experience in e-commerce and marketplaces helped convince investors.
Reports say Williams’ firm first met the founders during a visit to Harvard Business School by social media star Alix Earle, whose TikTok video about Trace went viral.
From Serena Ventures to Starfire Ventures
Williams set up her venture firm before she retired from professional tennis in 2022. Originally called Serena Ventures, it closed a $111 million inaugural fund in 2022 and has invested in companies such as MasterClass, Tonal, Impossible Foods and fintech firm Esusu.
In August 2026, Williams revealed that the firm had rebranded as Starfire Ventures. Speaking on a live recording of the Rapid Response podcast, she explained: “I wanted it to be bigger than me. I wanted it to be about the team.”
The firm has a strong focus on backing founders who are often overlooked by traditional investors, including women and people of colour. The Trace deal, led by two female founders, fits that approach.
Why It Matters
The global fashion resale and rental market has grown rapidly, driven by younger shoppers who care about cost and sustainability. If Trace’s presale model takes off, it could change how people think about buying new clothes, turning every purchase into a possible source of income.
With a 23-time Grand Slam champion now in its corner, the young startup has a high-profile backer as it tries to grow.