SPAIN - Debaeque takes 10% in BuyVip

In April this year, the company raised a EUR 4.9m series-D financing round led by Kennet Partners, which committed to invest up to EUR 11.1m. Kennet was joined by existing investors Bertelsmann Digital Media Investments, 3i Group and Molins Capital Inversión, managed by Active Capital Partners, which also participated in this round.

Prior to this, BuyVip received a EUR 10m series-C investment from Bertelsmann in August 2008, a EUR 7m series-B round led by 3i in the summer of 2007 and a EUR 1.6m investment in early 2007 led by internet incubator and consultant Valkiria Network International, in which Molins Capital Inversión also participated.

Based in Madrid, BuyVIP was founded in 2006, and operates as a private buyers' club in which limited stocks of famous brand lifestyle and fashion products are offered at discounted prices through short duration sales campaigns. The company currently counts 4.5 million members and carries out more than 10 new sales campaign a day.

The business employs 200 people across its subsidiaries in Spain, Germany, Italy, Poland and the Netherlands. The company reported a turnover of EUR 20-30m with in excess of 300% annual growth.

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• Topics
• Expansion
• Southern Europe