Made.com has secured £40m of fresh investment to accelerate its European expansion after registering a climb in full-year sales.
The online furniture specialist said the new capital would help it “establish digital brand leadership across Europe”.
The additional funding has been pledged by an unnamed tier-one global institutional investor, alongside existing investors Partech Ventures, Level Equity and Eight Roads Ventures.
Made.com revealed details of the fund raise alongside its full-year sales performance.
The etailer recorded a 40% surge in net revenues in 2017 to £127m – a “break-even run rate” at group level.
It said it was profitable in the UK, France and the Benelux region, although it did not disclose a figure.
Made.com said it would use the £40m cash injection to roll out more of its showrooms and launch into new European markets – it currently operates in the UK, France, Germany, the Netherlands, Belgium, Austria and Switzerland.
It has also earmarked some of the funding to “pioneer the creative use of technology” in a bid to further improve the shopping experience.
Made.com also revealed it has poached Yoox Net-a-Porter executive Adrian Evans as its new chief finance officer.
Made.com boss Philippe Chainieux said: “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 cashflow 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. While Made continues to evolve, it remains at heart a design brand, committed to creating beautiful products for the home which are affordable and unique.”