Index leads €10m series-C round for Navabi

The fresh capital, of which Seventure provided around €2m, will be used to expand the firm into the UK and France and add new brands to the online offering. Although there are no certain plans for further funding rounds, Seventure will seek to invest in potential further rounds for the German firm.

Navabi has now raised approximately €13.5m in external funding since inception. In 2010, German venture firm DuMont backed Navabi with €625,000, alongside various private investors. One year later, Seventure joined Dumont in reinvesting in the Aachen-based start-up, leading a €2.8m series-B financing round.

Company
Navabi is an online retailer offering luxury clothes and accessories from size 14 upwards. The company, which operates in 20 countries, offers brands such as Fendi, Kenzo, Roberto Cavalli and Manon Baptiste.

Founded in 2009, the firm expects to post a €30m turnover in 2013. It employs approximately 130 staff.

People
Wolfgang Krause is responsible for Seventure's German operations. Alexander Drusio is investment adviser at DuMont and led the 2010 Navabi deal. Bahman Nedaei and Zahir Dehnadi founded Navabi.

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• Topics
• DACH
• Consumer
• Expansion
• Germany
• Index Ventures
• Seventure (SPEF)