Spartoo.com wants to push expansion
23 Oct. 2012
Spartoo secures €25 Million in financing to accelerate European growthSpartoo, online retailer of footwear and bags, has announced that it has secured € 25 Million in Series C funding led by, Sofina, an investment holding company, with existing investors A Plus Finance, CM-CIC Capital Privé, Highland Partners and Endeavour Vision.
The funding will be used to sustain Spartoo's aggressive expansion across the European market. Founded in 2006, Spartoo is now profitable in its core French market and has grown to become one of the largest online shoes, bags and accessories shops in Europe. Spartoo offers a selection of over 30.000 models from 700 brands and receives over 12 Million unique visitors per month.
In a European market estimated at over € 50 billion, Spartoo has seen its international turnover multiply 20-fold over the past three years. In recognition of the company's business success, the French shoe retailer has been named as one of the 25 Europe's fastest growing and most innovative digital media companies by the GP Bullhound's Media Momentum 2011.
"We are thrilled to partner with leading European institutional investors who endorse our growth strategy and are entirely supportive of our customer service strategy and our long term strategic vision", says Boris Saragaglia, cofounder and CEO of Spartoo. This round brings the total capital raised to €45 Million for the company. Jefferies International acted a financial adviser to Spartoo on the transaction.
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