Swedish fast fashion e-commerce retailer NA-KD.com secures €14 million from Northzone and eEquity

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The Göteborg-based e-commerce startup NA-KD was founded in 2015 by serial entrepreneur Jarno Vanhatapio. In just a year, the young company has achieved impressive traction, with annual net revenues of €22 million, and sales to over 140 countries.

The e-commerce market is still growing fast, expected to reach $4.1 trillion in 2020, from $1.9 trillion in 2016. Northzone and the Swedish VC fund eEquity saw this opportunity and invested €14 million in the young e-commerce company.

Jessica Nilsson, Partner at Northzone, led the investment, and commented: “We like e-commerce companies that have a unique twist to their business model, a global ambition and a laser sharp focus on their customer segment. NA-KD has all of these factors, and with their innovative business model, the team is trying to change the industry from the ground up. NA-KD has achieved exceptional growth since the launch in 2015, and we are impressed by their ability to establish a global customer base, and a strong brand, through a combination of e-commerce and social media. We are also impressed by Jarno and the team’s drive, ambition, and track-record within e-commerce. We are delighted to be a part of NA-KD’s journey, and have a strong belief in what they can achieve in the global market.”

NA-KD is focusing on providing a unique e-commerce experience like no other for women across the globe. The startup already employs more than 90 people and has offices in Göteborg and Stockholm.

CEO and Founder of NA-KD Jarno Vanhatapio added: “In our first year of operation, we’ve already had a lot of inbound interest from venture capital firms in the Nordics, Europe and the USA. This is as a result of our fast global traction, which has been the engine to our growth. For us, it’s important that our investors share our global view, and have a capacity that matches our ambitions over the coming years. In Northzone and eEquity, we have found two investors that rate highly internationally. Besides capital, they will support the Board with relevant knowledge around the process of internationalisation, with their strong track-records of investments in companies like Spotify, Bloglovin’ and WhiteAway. I am especially happy that both their representatives on our Board have a strong entrepreneurial e-commerce backgrounds.”