HomeGermany-StartupsMunich-based Westwing raises another €25 million for its home and living products

Munich-based Westwing raises another €25 million for its home and living products

Westwing, a leading international e-commerce company for home and living products, has announced raising a new €25 million funding round from its existing investors.

Westwing, which is headquartered in Munich, is a leading international e-commerce company for the home and living sector. The company offers home accessories and furniture to over €19 million members across 15 markets. In 2013, Westwing grew to €12 million in net sales.

The new funding round of €25 million comes from a series of existing investors: Access Industries, Fidelity Worldwide Investment, Investment AB, Kinnevik, Odey, Summit Partners and Tengelmann Ventures. Overall, Westwing has raised €179 million since its founding.

Stefan Smala, CEO and founder of Westwing said: “The new funding by our existing shareholders is a big vote of confidence that our investors are convinced of Westwing’s business model and our strategy. With the funding we have sufficient flexibility to enhance our growth plans, as well as to further expand our position in the home and living market.”

At the beginning of 2014, Westwing had secured €72 million from a group of investors. Among other things, the expansion to Belgium, Kazakhstan, Slovakia, Czech Republic and Hungary was funded with this money, as well as its expansion to seven logistics centres around the world.

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Marko Srsan
Marko Srsan
founder @TimePrepCFA, blogger interested in startups and VC along with social media and project management, a drummer and a passionate FC Bayern Munchen fan :)

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