KupiVIP Holding, a Moscow, Russia-based operator of popular fashion ecommerce websites, has raised $38m in funding.
The company intends to use the funding to further develop its ecommerce platforms and scale operations.
Founded in 2008 by General Director Oskar Hartmann, KupiVIP Holding operates:
– KupiVIP.ru, an online shopping club offering over 1,500 brand name designer fashions and accessories at up to 90% off through daily flash sales; and
– ShopTime.ru, which provides a wide assortment of fashion products,
– as well as white label ecommerce services to global fashion brands to help them operate online stores in Russia.
Following the investment, Intel Capital Investment Director Igor Taber will join KupiVIP’s Advisory Board along with Jan-Gisbert Schultze, Managing Partner, Acton Capital Partners.