Westwing receives EUR 72 million in new funding from Fidelity

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
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.