Sofina leads €25m round for Privalia

The company will use the funds to strengthen its financial structure and expand into Latin America, with a particular focus on Mexico and Brazil.

The investment is in line with Sofina's experience in the clothing retail sector. In October 2012, the GP participated in a €25m series-C round for Spartoo, an online retailer of shoes and bags.

Previous funding
In 2010, Highland Capital Partners, Index Ventures and General Atlantic injected €70m into Privalia. Between the firm's foundation in 2006 and the €70m funding round in 2010, the company had raised €15m across four funding rounds. Nauta Capital and Caixa Capital Risc were the first institutional investors in the firm.

In 2011, General Atlantic, Highland, Index and Insight Venture Partners injected €88m of new equity into the company to finance the acquisition of Dress For Less.

Company
Founded in Barcelona in 2006, Privalia is an online sales club for clothing and accessories. The company sells leading brands at low prices in exclusive sales for club members.

In 2012, Privalia grew by 32% to record revenues of €442m. The company employs more than 600 people at offices in Barcelona, Milan, Sao Paolo and Mexico.

People
Laurent Jouret is a senior manager for alternative investments at Sofina.

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• Topics
• Southern Europe
• Consumer
• Expansion
• Spain