Westwing Receives $50M in Funding
Westwing, a Munich, Germany-based shopping club for home & living, has raised $50m in funding.
The round, which brings the total amount raised to date to $82m, was led by Summit Partners, with participation from existing investors Access Industries, Holtzbrinck Ventures, Investment AB Kinnevik and Rocket Internet.
The company intends to use the capital to accelerate its growth and scale operations in each of the countries in which it is present.
Launched in August 2011 by CEO Stefan Smalla, Delia Fischer, Georg Biersack, Matthias Siepe, and Tim Schäfer, Westwing currently offers home décor and furnishing products serving over 3 million members. It has already rolled out operations to more than a dozen countries in Europe and worldwide.