Germany-headquartered Westwing, an online shopping club that
operates in more than a dozen countries, has secured $50 million
(£40 million) in a financing round led by Summit Partners
with participation from its existing investors. This capital
injection takes Westwing’s total funding raised to $82 million.
The investment will be used to build Westwing into one of the
largest eCommerce retailers in the home and furniture market.
Commenting on the deal, co-founder and chief executive Stefan
Smalla says, “With this new capital, we will accelerate our
rapid growth, scale operations in each of our countries and do
everything to serve our members and brand partners even
better.”
Launched in Germany in 2011, Westwing is active via the Dalani
website in the UK, Westwing.de in Germany, Heavenandhome.com in
India, as well as sites in France, Australia, Italy, Sweden,
Poland, Turkey, Russia, the Netherlands, Spain, Brazil and
Finland. Each territory is managed by a dedicated local team.
Currently serving more than 3 million members, Westwing saw sales
grow tenfold in the past five months.
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