Westwing, a leading international eCommerce company for home & living, announced raising a new EUR 25 million funding round from existing investors.
As you may know, Westwing, that is headquartered in Munich, is a leading international eCommerce company for Home & Living. The company offers home accessories and furniture to over 19 million members across 15 markets. In 2013, Westwing has grown to EUR 12 milion in net sales.
The new funding round of EUR 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 EUR 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 & living market.”
At the beginning of 2014, Westwing had secured EUR 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 the expansion to seven logistics centers around the world.