Sapato.ru, the "Zappos of Russia", raises $12 million from Intel, others

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Sapato.ru, a Russian online shoe retailer, this morning announced that it has secured $12 million in additional capital from Intel Capital, with existing investors Direct Group, eVenture Capital Partners and Kinnevik participating. The round brings Sapato.ru’s total of funding to approximately $20 million.

The investments will be used for expanding the assortment range, marketing and to improve customer service through enhancement of the startup’s CRM platform.

Sapato.ru was originally launched in June 2010, and by May 2011 its turnover grew 50 times to reach more than $2.8 million. More than 75,000 orders have been handled in less than a year.

The company currently offers more than 5,700 models (shoes and accessories) from 200+ brands for women, men and children up for sale online, and says it boasts 100,000 active customers at present.

Sapato.ru is the first startup of Fast Lane Ventures, a Russian company set up by Western investors to launch, accelerate and promote innovative Internet projects.