Intel Capital et al. back KupiVIP

The venture capital firm was joined by new investors Acton Capital Partners and EBRD, as well as existing backers Accel Partners and Balderton Capital. The company has so far received $110m in four funding rounds, including a $55m series-C round in 2011. The management's holding was reduced to a minority stake in the course of the investments.

Intel closely observed the progress of the company over the past three years before committing to invest, the GP told unquote". The business doubled last year's revenues following similar growth the year before.

The investment will contribute to further growth of the business with the opening of a new warehouse and the launch of additional websites.

Company
KupiVIP is a Russian e-commerce fashion retailer. It was founded by Oskar Hartmann in 2008 and operates a number of online shopping clubs, including KupiVIP.ru and KupiLuxe, a luxury fashion club. The company also owns ShopTime.ru, an internet fashion shop.

KupiVIP has attracted more than eight million registered users. The holding company's base is in Moscow with a further office in Berlin. The German office is responsible for sourcing supply from Europe.

People
Intel Capital investment director Igor Taber led the deal. Sonali De Rycker is a partner at Accel. Oskar Hartmann is the founder and CEO of KupiVIP.ru.

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• Topics
• DACH
• Expansion
• Consumer
• CEE
• EBRD
• Intel Capital
• Accel Ventures
• Balderton Capital
• Russia
• Germany