Online furniture shop Made.com has attracted 45 million euro in a new investment round, which will be used to strengthen its position in current markets and to expand to new European markets.
Both new and old investors, like Level Equity, Eight Road Ventures and Partech Ventures, provided the new funds. It will construct new showrooms for instance. “The new investment round enables us to grow more rapidly in our existing and new markets across Europe”, CEO Philippe Chainieux said.
Made.com was founded in 2010 and is currently active in Austria, Belgium, France, Germany, the Netherlands, Switzerland and the United Kingdom. It generated a 143 million euro turnover last year, which was a 40 % growth compared to the year before and made it slightly profitable.
Made.com also announced the arrival of new CFO, Adrian Evans, who comes from Yoox Net-a-Porter where he used to work as the commercial director, financial director and strategic director. He helped merge Net-a-Porter with Yoox as CFO.