Highland Europe injects €10m into ShopFully

The fresh capital will enable ShopFully to undertake a recruitment drive in each of its international markets and expand into new territories. The business will also invest in the development of its platform.

ShopFully has hired 50 new team members over the past six months and stated it aims to double its total headcount over the next 18 months.

The latest investment round brings the total amount raised by ShopFully group to €20m, with institutional investors including Principia, 360 Capital Partners and Merifin taking part in various investment rounds over the past three years.

Highland Europe has been relatively inactive in recent months, following a flurry of activity towards the beginning of 2015. The VC made four investments in the first three months of the year but most recently took part in a $20m round for portfolio company Outfittery in March.

Highland Europe is currently investing from its maiden fund, which held a final close on its hard-cap of €250m in May 2014.

Company
Founded in 2010 and co-headquartered in Milan and Bologna, ShopFully has a presence across Spain, Brazil, Mexico, the US and Indonesia. The business operates under the DoveConviene, DondeTuCompras, AondeConvem, DondeLoCompro, ShopFully and DimanaBelanja brands. It has an additional Italian office in Cagliari, bringing the company's total headcount to more than 100.

People
Tony Zappalà is a partner at Highland Europe. Stefano Portu and Alessandro Palmieri are co-founders and co-CEOs of ShopFully.

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