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Partech leads the $60M financing round for MADE.COM

Partech today announced Partech Growth’s first European investment as lead investor in the new $60M financing round in MADE.COM, a leading European online design brand.

We decided to invest $34M in MADE.COM because we are convinced by the company’s clever and agile business model and by the exceptional quality of the management" said Bruno Crémel, General Partner of Partech Ventures and board member of MADE.COM, adding that "MADE.COM will quickly become the European leader of online design.

In just five years MADE has built a powerful brand and an excellent customer proposition, which is changing the way we shop for furniture and homewares. With the support of Partech Growth, we now have the funding and board expertise to fully execute on the next stage of our ambitious international growth plans and to further progress towards our aim of becoming Europe’s number one destination for home design”, said Ning Li, co-founder & CEO of MADE.COM.

MADE.COM will use the funds from this to accelerate its strong growth (+ 63% in 2014) in markets where it is already present: the UK, France, Italy, Germany, Belgium and the Netherlands. Taken together, these countries represent a £100Bn market. MADE.COM also plans to expand its service through massive investments in technology and new products. The funds will also be used to reinforce the brand’s leadership through online and off-line marketing campaigns.

Based in Paris, Berlin and San Francisco, Partech Ventures launched the Partech Growth fund early 2015 with an initial closing of €200M. The three partners in charge of the fund are Omri Benayoun and Bruno Crémel, based in Paris, and Mark Menell, based in San Francisco.

“This $34M deal with MADE.COM is the third one of Partech Growth and follows the $22M investment announced last June in FreedomPop, a California-based fermium MVNO”, said Omri Benayoun. « All those companies are true disruptors in their market"

The fund’s investment strategy is very selective, simple and ambitious: Partech Growth invests in companies that aim to achieve a global market leading position, and are capable of breaking the rules of their industry. The fund provides between $10M and $50M of capital to fast-growing technology and digital companies that have already achieved significant scale, whether in Europe or in the U.S., with the mission to help outstanding entrepreneurs to succeed in a global economy.

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