Home24, one of Europe’s leading online furniture retailers, today announced a financing round of €120 million. The additional capital will further strengthen the balance sheet and enable the company’s continued growth in its existing eight markets.
The fresh capital was raised from existing as well as new investors. The UK-based investment firm Baillie Gifford led the funding round on behalf of its funds with an investment of €90 million, securing about 9.55% of the shares in Home24. In total €30 million was invested by existing shareholders including Rocket Internet SE.
Peter Singlehurst, Investment Manager at Baillie Gifford, said: “We are excited to be investing in Home24 on behalf of our clients. The internet is changing the way we buy furniture and Home24 is at the forefront of this. We look forward to working with the Home24 team and being long term supportive shareholders.”
Home24 CEO, Domenico Cipolla, stated: “We are proud to welcome Baillie Gifford as new key long term investor to Home24 and we look forward to working together on further establishing Home24 as the market leader in Europe and Latin America.”
In 2014, Home24, generated significant growth of 72.5% in 2013. The young company is headquartered in Berlin and was founded at the beginning of 2012.
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