Made.com, a London, UK-based designer furniture brand, secured $60m in funding.
The round was led by Partech Growth with participation from Fidelity Growth Partners and Level Equity. In conjunction with the funding, Bruno Crémel, a general partner of Partech Ventures, joined Made.com’s board of directors along with Susanne Given, an independent director.
The company intends to use the funds to further accelerate growth in its existing furniture markets of the UK, France, Italy, Germany, Belgium and The Netherlands, which combined have an estimated market size of over £100bn.
Led by Ning Li, Co-founder & CEO, Made has collaborations with some 50 designers and works closely with manufacturers across the world to offer consumers furniture and homeware products at prices up to 70% below the high street price for equivalent products.
The company operates a fast fashion business model that enables it to adapt to changing trends quickly. New lines can take four months from design to reach the market
It has a small network of showrooms as an extension of the website, where customers can view a selected range of items before purchasing online.
Made employs 170 staff in London and Shanghai offices.
FinSMEs
20/07/2015