Home24, Europe’s largest online furniture shop, has received €15.9m in its latest financing round.
The investments by existing as well as new shareholders were effected via a capital increase and purchase of existing treasury shares. Rocket Internet AG participates as an existing shareholder of Home24 with an amount of €10m. A total of €15.9m will be invested, which acquires shares amounting to 1.95% of the share capital.
Domenico Cipolla, MD of Home24, says: "We are excited about today’s financing round, which enables us to extend our leading position in Europe and Latin America. Our potential is not even close to fully exploited yet, there are still numerous customers that we aim to convince of the convenient and reliable online purchase at Home24. This is why we will continue to invest in the customer experience as well as in our product offering.”
In 2014, Home24 has expanded into three more countries – Switzerland, Belgium, and Italy – marking a total of seven European markets. Furthermore, the company has reached over one million registered customers and opened up its first own warehouse in Berlin-Ludwigsfelde.