The Iconic, a fashion site dedicated to Australia and New Zealand, raised A$28m (approximately $26m) in funding.
The company was incubated by Berlin-based Rocket Internet. The round was led by Verlinvest, with participation from existing investors Kinnevik and Summit Partners, all of them regular investors of the Samwer’s creatures.
The company intends to use the funds to develop the platform, add domestic and international brands, and go mobile.
Founded in 2011 and led by Adam Jacobs, co-founder and MD, The Iconic offers clothing, shoes and accessories for women, men and kids. The company says that the site currently has 4 million monthly users and 45,000 products from 500 brands. It offers free shipping and 100 days free returns on all purchases.
FinSMEs
11/07/2013