According to reports, Zalando, a Berlin, Germany-based online fashion retailer, has closed a €40.7m debt financing.
Providers include Commerzbank, Sparkasse Mittelthüringen and KfW Bankengruppe.
The company intends to use the proceeds to cover operational costs and infrastructure projects, including the extension to its logistics centre at Erfurt. Zalando is also in the process to start work on a new logistics centre at Mönchengladbach.
Founded in 2008 by Robert Gentz and David Schneider and incubated by Samwer brothers’ Rocket Internet, Zalando is an online retailer for shoes and fashion offering an extensive selection for women, men and children ranges from over 1000 different international brands.
Following its success in the German market, the company expanded in Austria, Switzerland, the Netherlands, France, the UK, Italy, Sweden, Belgium, Spain, Finland, Denmark and Poland.