Partech et al. inject $60m into Made.com

JosУЉ Rojo
20 July 2015

Tweet
Facebook
LinkedIn
Google plus
Send to

Partech Ventures has invested $34m via its Growth fund as part of a $60m funding round for UK-headquartered design furniture retailer Made.com.

The fresh capital will allow Made.com to continue financing the growth it has experienced in recent years, with claims of a 63% turnover uptick in 2014.

The company is aiming to expand internationally and bolster its existing presence in France, the UK, Italy, Germany, Belgium and the Netherlands – these markets are thought to represent a combined £100bn in business, according to the company.

Additional funds will be invested in innovation, the development of new products and the launch of marketing campaigns, both online and offline.

Partech financed its $34m investment via its Growth fund, which raised €200m when it held a first close in January 2015, according to unquote" data.

Targeting equity tickets in the $10-50m region, the vehicle has backed two companies prior to Made.com, including California-headquartered FreedomPop, supported with a $22m capital injection.

Previous funding
According to unquote" data, Made.com first received institutional funding in March 2010, when London-headquartered VC ProFounders Capital injected £2.5m into the business alongside entrepreneurs Marc Simoncini and John Hunt.

In January 2012, the firm joined forces with US VC Level Equity for a £6m second round that was led by the latter.

Company
Founded in 2009, Made.com is an online retailer specialising in the sale of furniture and home accessories. The company seeks to cut down product prices by side-stepping intermediaries such as agents or importers.

Headquartered in London, the business reportedly posted a £42.8m turnover in 2014, a 63% uptick from the £26.2m reported in 2013.

People
Partech was represented by partner Omri Benayoun. Ning Li is Made.com's founder and current CEO.