Velasca, a Milan, Italy-based e-commerce startup focused on selling high-quality shoes, raised €720k in funding.
The round was led by Programma 101 (P101), which committed €370k, with participation from a private investor and co-founders. It follows two previous rounds closed in September 2014 and March 2015 from Boox, Club Italia Investimenti 2 and Club Digitale, which today owns a 25% stake in the company in total.
The company intends to use the funds to develop operations, marketing and HR teams as well as to open new stores in Italy and abroad.
Co-founded in 2013 by Enrico Casati and Jacopo Sebastio, Velasca offers Made in Italy, high qualith shoes made by artisans located in the region of Marche.
In its latest fiscal year, the company had a turnover of €1m. Velasca has over 8K customers in Italy, France, UK, Germany, Nordic Europe and North America.