Made.com, a leading European designer furniture brand, has announced a $60M fund raise, led by Partech Growth Fund and supported by Fidelity Growth Partners, as well as existing investor Level Equity.
The funds raised will primarily be used to further accelerate the Group’s growth strategy in its existing furniture markets in the UK, France, Italy, Germany, Belgium and The Netherlands which, combined, have an estimated market size of over £100bn.
Having achieved a CAGR in revenues of over 100% in the last 3 years, momentum has continued into the current year, with a comparable improvement in all financial metrics. The Group has recently successfully launched into the German market and collectively its international markets are, in less than three years, 30% of total Group revenues and are anticipated to exceed 50% in the near future.
In tandem with the fund raise, MADE has appointed Susanne Given, formerly of SuperGroup Plc and The John Lewis Partnership, as an independent director to the board. With Brent Hoberman as Chairman, the board now has a powerful mix of technology and retail expertise to draw upon.
“In just five years MADE has built a powerful brand and an excellent customer proposition, which is changing the way we shop for furniture," says Ning Li, Co-founder & CEO of MADE. "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.”
Bruno Crémel, general partner of Partech Ventures, who joins the MADE board of directors as part of this round, says: “The company’s clever and agile business model and the exceptional quality of the management team give us strong confidence that MADE will become the European leader of online design furniture.”