Privalia Raises €70M

Privalia VentaDirecta, S.L., a Barcelona, Spain-based online fashion shopping club, has received a €70m (approximately $95m) financing.
Investors include new backers General Atlantic LLC, Index Ventures, and existing shareholder Highland Capital Partners.
Founded in 2006 by Lucas Carne and Jose-Manuel Villanueva, the company currently operates in Spain, Brazil, Italy and Mexico, employing over 600 team members.
The capital infusion will enable Privalia to expand into new markets organically and through acquisitions in Europe and Latin America. The funds will also be used to optimize the company’s logistic and technology network to ensure the best possible service for its growing worldwide customer base of over 5m members worldwide.
Prior to this raise, Privalia had received a total of €15m through four funding rounds since its formation in 2006.

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