A new investor, NorthZone, has invested 20 million dollars (18 million euro) in German personal shopping service Outfittery to strengthen its European position.
"Next evolution in eCommerce"
Northzone Capital has invested in technology companies ever since its inception. It has, for example, invested in online streaming service Spotify.
"Outfittery has a business model that will force the fashion branch to re-evaluate itself. We believe "curated shopping" to be the next evolution in eCommerce and Outfittery has managed exceptional growth ever since its foundation, thanks to its vision and business model. On top of that, we are very impressed by its entire team and the clear customer focus", Northzone's Hans Otterling said.
Several other investors, like Highland Capital Partners, Holtzbrinck Ventures and Mangrove Capital Partners, have also enlarged their stake in Outfittery. Currently, the company is active in 8 different European countries, like Germany, Belgium, the Netherlands and Luxembourg, with the intent to launch in several other countries.