Partech Growth Fund and Fidelity Growth Partners (investors of Notonthehighstreet.com) have given e-tailer Made.com a cash boost of $60 million to expand the site’s reach across the UK, Belgium, France, Germany, Italy and The Netherlands.
Figures show that the furniture company reached an annual growth rate in revenues of over 100% in the last three years and success has followed into the current year.
The company has further bolstered its expansion plans with the appointment of Susanne Given, previously of John Lewis and SuperGroup, along with the founder of Lastminute.com, Brent Hoberman.
Co-founder & CEO of Made.com, Ning Li said: “In just five years Made has built a powerful brand and an excellent customer proposition, which is changing the way we shop for furniture. With the support of Partech Growth, we now have the funding and board expertise to fully execute on the next stage of our ambitious international growth plans and to further progress towards our aim of becoming Europe’s number one destination for home design.”
Ms Given also commented: “Made occupies that unique space sitting between the creative use of technology and consumer facing multichannel tools, which combined with its fresh approach to both customers and supply chain, has allowed it to carve out an impressive position in the European home interiors market over the past five years. I look forward to working with the board and sharing my knowledge and experience as the business continues its rapid international growth."
