Westwing receives EUR 72 million in new funding from Fidelity Worldwide Investment, Odey, Tengelmann, and others Munich, April 3rd, 2014 – Westwing, the leading international eCommerce company in the home & living market, announced today that it secured another round of funding of EUR 72 million from a group of investors including Fidelity Worldwide Investment, Odey, Tengelmann, and others. With this new round of funding, Westwing becomes one of the best-funded eCommerce companies outside the US. Westwing has raised EUR 72 million of new funding capital, bringing its funding total to EUR 150 million after 2.5 years on the market. Recently, Westwing disclosed that it almost tripled its net revenues to EUR 110 million in 2013, after EUR 41 million in 2012 and EUR 0.5 million in 2011. Colin Stone, Portfolio Manager at Fidelity Worldwide Investment and new Westwing investor: “Westwing’s scale and achievements after only two full years of operations are impressive. We are very pleased to be part of this successful growth story. Westwing has built an innovative logistics setup in its 10 markets, has established strong customer loyalty and stands for a distinctive and high-quality offering.” Stefan Smalla, Founder and CEO of Westwing: “We are very excited to have the support of such internationally renowned investors. Their funding represents strong confidence in our rapidly growing business. We will use the investment to reinforce our position as a pioneer in the home and living eCommerce market. We constantly strive to offer the best interior design brands, latest trends and products, and to create the best possible customer experience for our more than 12 million members.” Westwing has established itself as the number one home & living eCommerce retailer across the 10 markets it serves, among them emerging countries like Brazil and Russia as well as European core markets like Germany, Italy and France. In its second full year of business, Westwing sold more than 2.8 million products, with more than a third of sales already conducted on mobile devices. The global home & living market exceeds EUR 400 billion, similar in size to the fashion market, but at an earlier stage in the shift to online. About Westwing Westwing is the leading international eCommerce company for home & living, offering its customers the latest trends in home décor and furnishing products at exceptional prices. Westwing is active in ten markets on three continents and is headquartered in Munich, Germany. Westwing counts 1,100 employees in eight countries. Westwing was founded in 2011 by Delia Fischer, Georg Biersack, Matthias Siepe, Stefan Smalla, and Tim Schäfer. Westwing has received more than EUR 150 million in funding capital from Access Industries, Fidelity Worldwide Investment, Holtzbrinck Ventures, Investment AB Kinnevik, Odey, Summit Partners, Tengelmann Ventures, and others. For more information please visit www.westwing.de. Westwing is active in Germany, Italy, Brazil, Russia, France, Spain, Poland, Netherlands, Switzerland, and Austria.
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