Spanish eCommerce giant Privalia closes €25M funding deal
Privalia, the Spanish eCommerce giant that sells fashion brands in flash sales, has recently raised €25M from Sofina Belgium, Highland Capital, Insight partners, Index Ventures & others.
Founded in 2006 by José Manuel Villanueva and Lucas Carné, the company has 15 million members world-wide, and grew 32% in 2012 to reach revenues of €422 million.
They will now focus new funds on growth in Brazil and Mexico, and they also already operate in Spain, Italy and Germany. The company is investing heavily on the mobile side, with a third of sales already coming via its mobile apps.
The current input brings total funding to date to over €215 million.
Corporate presentation of Privalia in English