Partech leads $45m series-B for Na-kd

The funding round was led by the Paris-based GP alongside existing investors Northzone, eEquity, New York-based investment firm FJ Labs and private investors Jonas Norlander and Filip Engelbert.

The fashion e-commerce company received $40m in primary funding, with $5m in secondary funding from business angels.

Digital brands are currently flourishing, making it a good time to invest, Partech general partner Omri Benayoun told unquote". He added that Partech has always been on the lookout to invest in a company in this space, and Na-kd stood out among other opportunities.

With the fresh $40m primary funding capital, Na-kd intends to continue its growth strategy and launch nine new websites in different European languages, in addition to investing in social influencers on social media platforms.

The investment is the ninth deal from the Partech Growth Fund, which held a final close on its €400m hard-cap in June 2016. The fund invests mainly in digital brands and enterprise software.

Partech did not disclose the size of its investment; however, the firm injects equity tickets between €25-30m on average.

Previous funding
In January 2017, Northzone and eEquity co-led a €14m round for the Swedish online retail business. The deal marked the sixth investment for eEquity III, which held a first close on €60m in September 2015.

The company aimed to use the fresh capital to improve customer experience as well as boost its marketing strategy. Alongside the capital injection, both GPs nominated their representatives to the company's management board.

In Q1 2017, the company intended to expand its team through the opening of a new office in Stockholm and a central depot in the Netherlands, aiming to facilitate deliveries across continental Europe.

Following the transaction, the company's founder and CEO, Jarno Vanhatapio, remained the firm's largest shareholder, while its chairperson Magnus Emilson became the third largest owner.

Alongside new investors, the company's shareholder base included 13 business angels.

Company
Founded in 2015 and headquartered in Gothenburg, Na-kd runs an online retail platform focusing on clothes and fashion accessories.

The business launched its na-kd.com website in December 2015. Currently, the business employs a staff of 90 and distributes products across 140 countries. It posted a turnover of €22m in 2016

People
Na-kd – Jarno Vanhatapio (founder, CEO).
Partech Ventures – Omri Benayoun, Bruno Crémel (general partners).
Northzone – Jessica Schultz (partner).

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