Spartoo secures 25 million Euros in fundingTuesday, 23 October 2012
Spartoo, Europe's largest online retailer of footwear and bags,
has announced that it has secured 25 million Euros through a Series C round of funding to accelerate its European growth.
The funding, secured from Sofina, an investment holding company, along with existing investors A Plus Finance, CM-CIC Capital Prive, Highland Partners and Endeavour Vision, would be used to sustain its “aggressive expansion” across the European market, a statement from the e-tailer confirmed.
Commenting on the new funding, co-founder and CEO Boris Saragaglia, said: "We are thrilled to partner with leading European institutional investors who endorse our growth strategy and are entirely supportive of our customer service strategy and our long term strategic vision."
Founded in 2006, Spartoo offers a selection of over 30,000 models from 700 brands and receives over 12 Million unique visitors per month, and it operates in twenty European countries including the UK, France, Italy, Germany, and Spain.