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From Zero to Foundr Podcast

Feb 25, 2022

Mona Fang started selling clothes online for side income and quickly realized the detrimental environmental impacts of the fashion industry. So at age 17, she decided to create a solution to the consumption problem in "fast-fashion." While a freshman at university, she started Karma Trade, a circular fashion trading platform using digital currency. 


Karma Trade uses a digital currency called "KARMA" to buy and sell secondhand clothing. Customers earn KARMA by donating clothes to the circular economy and can spend KARMA to get new clothes while only paying a small $USD swap fee. So far, Karma Trade has helped recirculate 20,000 items of clothing and reissue 200,000 Karma pieces. 


Listen to Mollie and Mona discuss: 

  • Building a supply chain, marketplace, and technology system from scratch
  • Why Mona says studying aerospace engineering is a hobby
  • Hosting events at her university to test the marketplace system
  • Opening their thrift store called "The Karma Outpost"
  • Expanding to other thrift stores to become "Outposts" 
  • How the 7 Figure Copywriting course gave her confidence to explain Karma Trade
  • The reasoning for using a digital currency over standard currency
  • Accessing talent from her university 
  • And much more startup and system advice...



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