Northzone leads $20m round for Outfittery

Previous backers Holtzbrinck Ventures, Mangrove Capital Partners, Highland Capital Partners and Fonds Kreativwirtschaft Berlin all increased their commitment as part of the round.

High-Tech Gründerfonds had also invested in Outfittery before Northzone's round. The latest investment was the third funding round for Outfittery, with the company having brought in a total of €16.7m prior to this deal.

Co-founder and CEO Julia Bösch told unquote" the founders and management retain a significant stake after the latest investment.

Outfittery recently expanded its offering to Sweden, and will use the Northzone-led funding to bankroll further growth and geographical expansion.

Company
Founded in 2012 by two Zalando alumni, Outfittery is an online fashion retailer and adviser for men.

Its concept is similar to that of The Cloakroom, a Dutch startup that has raised around €2.5m from Connect Venture and angel investors since it was founded in 2013.

Outfittery's customers answer questions about their style and clothing preferences, as well as their measurements, online. They are then contacted by a style adviser, who puts together an outfit and sends it to the customer. The customer can then pick which items to keep and return the others free of charge.

The company generated turnover in excess of €10m last year and operates in eight European countries. Outfittery employs 150 people, and claims to have 200,000 users.

People
Northzone partner Hans Otterling worked on the deal for the VC. Julia Bösch is the CEO of Outfittery.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• Consumer
• DACH
• Germany
• High-Tech Gründerfonds
• Highland Capital Partners
• Northzone