Seventure Partners is the lead investor in yet another financing round with the Aachen-based fashion e-commerce startup navabi. Alongside Seventure, the original shareholders DuMont Venture and Klaus Wecken are also participating in the capital increase.
navabi is an online boutique for high-quality plus-size designer fashion. The young company offers women, who are not content settling for dull off-the-peg clothing, a selection of high quality fashion from size 44 upwards. According to navabi, customers from over 20 countries have already been delighted by this concept.
navabi intends to use the €2.8 million to expand further in the coming years: “We are happy about the confidence our investors have placed in us and we will invest this new capital into the further growth of the business model and the expansion our team”, said Bahman Nedaei, founder and CEO of navabi.
Dr. Wolfgang Krause, who will join navabi’s board of advisors, spoke on behalf of Seventure Partners: “navabi has shown that it has implemented the business plan extraordinarily well and it has also established itself as one of the leaders within this market in Europe. This encouraged us to participate in the further growth of navabi. It also reaffirms our previous commitment to investing in outstanding German e-commerce companies with major growth potential”.
Shortly after navabi was founded in 2009, DuMont Venture, together with Klaus Wecken, was the first to invest in the startup. Jörg Binnenbrücker, CEO of DuMont Venture, added: “The navabi team has continually surpassed our expectations and, despite the early phase, it has achieved outstanding results. We now look forward to contributing to the further growth of navabi”.
By the way: If you are interested in getting unlimited access to our full editorial archive, our startup database, and many other CLUB benefits, consider joining our EU-Startups CLUB.
