Westwing Group GmbH, a Munich, Germany-based e-commerce company for Home & Living, raised €30m in venture capital funding.
The round was led by Investment AB Kinnevik, with participation from other existing and new investors.
The company intends to use the funds to continue to expand operations.
Co-founded in 2011 by Stefan Smalla, CEO, Delia Fischer, Georg Biersack, Matthias Siepe and Tim Schaefer, Westwing is an international eCommerce company offering home accessories and furniture during daily sales. The company is currently active in 15 markets (Austria, Belgium, Brazil, the Czech Republic, France, Germany, Hungary, Italy, Kazakhstan, the Netherlands, Poland, Russia, Slovakia, Spain and Switzerland) across three continents and employs more than 1,600 people worldwide.
Other investors include Access Industries, Fidelity Worldwide Investment, Odey, Rocket Internet, Summit Partners and Tengelmann Ventures.
In fiscal year 2014, Westwing grew to €183m in revenues (previous year: €110m).
FinSMEs
27/04/2015