Made.com has raised $60m (£38m) to accelerate European expansion and appointed former SuperGroup executive Susanne Given to its board.
The funding round was led by Partech Growth Fund and supported by Fidelity Growth Partners, alongside existing investor Level Equity.
The online furniture retailer is following an aggressive European growth strategy in markets including France, Italy, Germany, Belgium and the Netherlands.
Made.com revealed it was launching in Germany last month as part of a “key step” on its way to becoming a “market leader in Europe for furniture”.
Made.com founder Ning Li hopes to crack the country as the first part of an ambitious strategy to transform Made.com into “the number one destination for home design.”
In order to build the retail expertise on the board former SuperGroup chief operating officer Susanne Given has been brought in as an independent director.
She said: “Made occupies that unique space sitting between the creative use of technology and consumer-facing multichannel tools, which combined with its fresh approach to both customers and supply chain, has allowed it to carve out an impressive position in the European home interiors market over the past five years.”
Partech Ventures general partner Bruno Crémel has also joined the Made.com board of directors as part of the funding round.
Made.com is not profitable yet but has achieved a compound annual growth rate of over 100% in the last three years.
Its international markets account for 30% of total group revenues and are anticipated to exceed 50% in the “near future”.