NA-KD, a Swedish fashion retailer, has raised 45 million dollar (36.8 million euros) in Series B funding. NA-KD wants to use the money to accelerate the company’s growth and to further expand its business globally. The Swedish startup has plans to launch 9 localized websites in the coming months.
The new Series B round is led by global tech investment firm Partech, with participation of existing investors like Northzone and eEquity. This news follows one year after NA-KD secured 14 million euros in funding, in January of last year. And since then, the company grew over 150 percent.
Launching 9 new websites soon
With the money, NA-KD wants to grow further, partly by launching 9 new localized websites, hiring more personnel and developing collection collaborations with social influencers all around the globe. The company, founded in 2015, is mainly marketed through influential people on social networks like Instagram who share pictures of the online fashion brand.
“We have had great interest from the investment community and we were in the fortunate position to be able to choose who to partner up with”, says NA-KD Founder and CEO Jarno Vanhatapio, who also founded Swedish ecommerce company Nelly.com. “I am happy to welcome Partech into the NA-KD team. Partech really impressed us with their high ambitions, deep domain knowledge, extensive omnichannel expertise among the partners and their impressive investment portfolio.” Partech already has ecommerce companies like Made.com and ManoMano in its portfolio.
Targeting the US, UK and major European markets
NA-KD, which saw its revenue increase to over 60 million euros last year, moved its mains distribution center to the Netherlands at the beginning of 2017 and in the last quarter the company launched their new website and IT platform. “We will continue to invest in growth during 2018, especially targeting the US, UK and major European markets with nine localized and translated sites and with localized marketing”, Vanhatapio says.