Privalia, a Barcelona, Spain-based private sales club for clothing and accessories, closed a €25m funding round.
The round was led by new investor Sofina, a Belgian fund.
The company intends to use the funds to enhance its finaceal structure and expand into Latin America, mainly in México and Brazil.
Co-founded in 2006 by Lucas Carné and José Manuel Villanueva, Privalia is an online private sales club which organizes the sale of leading brands at low prices exclusively for club members.
The company has a turnover of €422m and employs over 600 people who work at offices in Barcelona, Milan, Sao Paolo and Mexico.
Beyond Sofina, Privalia is backed by The company Caixa Capital Risc, Nauta Capital, Highland Capital Partners, General Atlantic, Insight Venture Partners, Index Ventures, Sofina, Mirco Schultis and Holger Hengstler, Villanueva and Carné.
04/10/2010: Privalia Raises €70M