Fashion For Home, the online designer furniture store, has scored a new funding round led by the Munich-based VC Acton Capital Partners, while Holtzbrinck Ventures has also participated. And with it we have an exit of sorts.
That’s because, as part of the round, the Samwer brothers’ incubator, Rocket Internet, has sold its shares, although terms of the transaction aren’t being disclosed — unsurprising given the Samwers’ notorious reputation for secrecy. It’s also especially curious when you factor in last year’s leaked memo where Oliver Samwer described ambitions to become “number one” in the e-commerce sector for furniture with a strategy he controversially likened to “blitzkrieg”.
Fashion For Home’s new funding round as a whole is said to be in the “lower double-digit millions”, so also make of that what you will.
Operating out of Berlin, but targeting Germany, the UK, U.S., Austria and the Netherlands, Fashion For Home sells designer furniture online through an innovative vertically integrated “made-to-order” production process and business model and it’s this that enables it to be competitive as costs are kept low and savings passed on to customers. It’s a model that is strikingly similar to the UK’s Made.com.
Fashion For Home was founded in 2009 by Marc Appelhoff and Christoph Cordes.
Launched in April 2008, Acton Capital Partners is a Munich-based specialist investor in internet- and mobile-based, consumer-oriented businesses. Having managed more than 30 investments since 1999 as the corporate venture capital business of Hubert Burda Media, the German family-owned global media company, the Acton team brings a wealth of expertise to the companies in which it invests, delivering superior capital returns. Successful History Since its inception, the BDV Fund has focused on early stage companies, with Acton Capital Partners assuring continuity...
Rocket Internet GmbH invests in the development of innovative companies in the internet industry. Their passionate, dynamic, highly motivated team works to establish promising business models in the market.
HV Holtzbrinck Ventures was founded as a corporate vc in 2000 and became a fully independent vc investor in 2010 by setting up its fourth fund. HV Holtzbrinck Ventures has invested in more than 90 companies and focuses on early stage investments in consumer internet, mainly commerce, gaming, mobile, “social” businesses and related topics. Its current portfolio includes companies like Groupon, Zalando, wooga, Westwing, AdScale, Experteer, Gameduell.
FASHION FOR HOME (www.fashionforhome.com) is an international furniture company based in Berlin. The company was founded in 2009 by Marc Appelhoff and Christoph Cordes. Its ever-growing product range includes everything from high-quality upholstered furniture and dining room furniture to contemporary home accessories and comprises well over 8,000 products. FASHION FOR HOME’s pool of around 40 designers is made up of well-known names such as Reinhard Dienes, Karsten Weigel and Danish design studio 365 North, ran by Hendrik Pedersen and...