Etsy Raises $40M To Fuel International Expansion

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Etsy, the popular online marketplace for all things handmade, just announced that it has raised $40 million in a new funding round led by Index Ventures with participation by Burda, Union Square Ventures, Accel Partners. All of the investors in this round also participated in the company’s $20 million Series E round in August 2010. Including today’s round, Etsy has now raised about $92 million.

According to Etsy’s CEO Chad Dickerson, the company plans to use this additional funding for two things: “we plan to grow Etsy into an economic force all around the world and we want to provide more products and services to help sellers succeed and build their businesses on the Etsy platform.”

In today’s announcement, Dickerson noted that his company has already made some efforts to expand internationally by launching in Germany and France. He also pointed out that he hopes to bring more wholesale opportunities to Etsy sellers thanks to the company’s recent acquisition of Trunkt.

Last year, about $525 million changed hands among Etsy buyers and seller. The company currently has about 300 employees and its community sold about $65 million worth of goods last month. The site gets about 40 million monthly visitors and currently has about 15 million registered users and 875,000 sellers in 150 countries.