Made.com has announced that it raised £40m of equity in its latest round of funding, which it plans to use to accelerate its growth and establish digital design brand leadership across Europe.
The fundraising round includes a new tier-1 global institutional investor with a history of long-term global investments, plus further commitments from existing shareholders Partech Ventures, Level Equity and Eight Roads Ventures.
The fundraising follows another year in which Made.com achieved a net revenue of £127m (up 40% YoY).
Philippe Chainieux, CEO of Made.com, says: “We continue to scale rapidly across Europe, and I am pleased to confirm that Made.com has reached profitability in 2017 in the UK, France and Benelux, and is now cash-flow positive at the group level.
“We have had a strong start to 2018 and are very excited about the future. The funds raised will facilitate faster growth in existing and new markets across Europe.”
Additionally, Adrian Evans has been appointed Made.com’s CFO. He joins the company from the Yoox Net-a-Porter Group, where he held various senior management roles including commercial director, finance director and strategy director.