Westwing, a leading European eCommerce company in the home & living market, announced today that it raised €72 million in another round of funding. The investors of this round include Fidelity Worldwide Investment, Odey, Tengelmann, and others. This latest round of funding makes Westwing one of the best-funded eCommerce companies outside the US. In total, the Munich-based company now raised €150 million after just 2.5 years on the market.
Other interesting numbers: Westwing recently disclosed that it almost tripled its net revenues to €110 million in 2013, after €41 million in 2012 and €0.5 million in 2011.
Colin Stone, Portfolio Manager at Fidelity Worldwide Investment and new Westwing
investor, stated: “Westwing’s scale and achievements after only two full years of operations are impressive. We are very pleased to be part of this successful growth story. Westwing has built an innovative logistics setup in its 10 markets, has established strong customer loyalty and stands for a distinctive and high-quality offering.”
Stefan Smalla, Founder and CEO of Westwing, said: “We are very excited to have the support of such internationally renowned investors. Their funding represents strong confidence in our rapidly growing business. We will use the investment to reinforce our position as a pioneer in the home and living eCommerce market. We constantly strive to offer the best interior design brands, latest trends and products, and to create the best possible customer experience for our more than 12 million members.”