kfzteile24, a Berlin, Germany-based online retailer for automobile parts and accessories, raised a seven-figure venture capital funding.
Backers included Project A Ventures and EQT Mid Market Fund.
The company intends to use the funds for further development of in-house technology and data competencies.
Co-founded in 2001 by Matthias Kieper and Torsten Hainke and led by Stephan Rahmede, CEO, kfzteile24 started as an eBay power seller and grew to become the market leader for car parts and accessories in Germany via online shops www.kfzteile24.de and www.autoteile24.de. In addition to their online shop, the company runs three chain stores with attached workshops in Berlin.
kfzteile24 recorded revenues of €130m in 2015 and has approx. 500 employees.