Westwing Group GmbH, a Munich, Germany-based eCommerce company for home and living, raised €25m in funding.
Based on this round, led by existing shareholders (Access Industries, Fidelity Worldwide Investment, Investment AB Kinevik, Odey, Summit Partners and Tengelman Ventures), Westwing’s post-money valuation increased to €449.2m.
The company, which has now raised a total of €179m since its founding, intends to use the funds to enhance its growth plans as wel as to further expand its position in the home & living market.
Founded in 201 by Delia Fischer, Georg Biersack, Mathias Siepe, Stefan Smala and Tim Schaefer, Westwing offers daily sales of beautiful home accessories and furniture. The company is active in 15 markets across three continents (Austria, Belgium, Brazil, Czech Republic, France, Germany, Hungary, Italy, Kazakhstan, Netherlands, Poland, Russia, Slovakia, Spain and Switzerland) and employs more than 1,400 people worldwide. In fiscal 2013, Westwing had €12m in net sales.