Made.com raises €45 million to expand further across Europe
Made.com has raised 40 million pounds, a little more than 45 million euros, of equity in its latest round of funding. The furniture retailer wants to use this money to boost its growth and to further expand its online and offline business across Europe.
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The round was joined by existing shareholders Partech Ventures, Level Equity and Eight Roads Ventures and a new institutional investor. According to CEO Philippe Chainieux, the funds it raised will help Made.com with growing faster in existing and new markets across Europe. “We’ve had a strong start to 2018 and are very excited about the future.”
That future exists partly of launching into new markets and developing a number of new showrooms. Currently, the furniture retailer has six showrooms, which are located in London, Birmingham, Leeds, Paris, Berlin and Amsterdam.
Chainieux also announced that Made.com has reached profitability in the UK, France and Benelux last year and that it’s now cash-flow positive at a group level. Last year, it achieved net revenue of about 145 million euros, which is an increase of 40 percent compared to the year before.
The Made.com showroom in London: