Seven Ventures in $300m funding round for About You

The round was led by Heartland, a fashion retail investment holding company, with participation from Seven Ventures, German Media Pool and About You's three managing directors, Tarek Müller, Sebastian Betz and Hannes Wiese.

Otto Group will remain the largest shareholder in the company, and Benjamin Otto will remain on the supervisory board, though the company will now be managed as a portfolio company of the Otto goup rather than as a subsidiary.

The fresh capital was injected at a valuation of more than $1bn, making it Hamburg's first unicorn. It will be used to finance further growth and expansion into new markets. It plans to double its staff of 450 over the next three years.

Previous funding
Seven Ventures and German Media Pool led an undisclosed funding round for About You in September 2016.

Company
About You is an online fashion retailer based in Hamburg, catering for men, women and children. The company was founded in 2014 and generated revenues of €283m in 2017. It is targeting a revenue increase to between €450-480m in 2018.

People
About You – Tarek Müller (co-managing director).

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• Topics
• Expansion
• DACH
• Consumer
• Technology
• Venture
• Germany