Spartoo, a European online retailer for footwear and bags, has raised 25 million euro ($32.5 million) in Series C funding. Sofina, an investment holding company, led the round, with participation from existing investors A Plus Finance, CM-CIC Capital Privé, Highland Partners and Endeavour Vision. The money will be used for growth. Spartoo was formed in 2006.
Spartoo, Europe’s largest online retailer of footwear and bags http://www.spartoo.com, has announced today 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 stores in Europe. Spartoo offers a selection of over 30.000 models from 700 brands and receives over 12 Million unique visitors per month.
The shoe retailer sold 2 Million pairs of shoes in 2011 in 20 European countries. Customers enjoy incredible benefits such as free and fast delivery and returns. This unique consumer experience has been rewarded several times by the European Circle of excellence of Shopzilla.
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
Founded in 2006 by three graduates from prestigious French schools, Boris Saragaglia, Paul Lorne and Jérémie Touchard, Spartoo is the European leader online retail of footwear and bags.
Spartoo proposes more than 30.000 models from 700 brands.
It offers an exceptional service: Free delivery / Free returns for up to 30 days…
Spartoo is active in 20 European countries, such as France, United Kingdom, Italy, Germany, Spain…
The main shareholders are: the cofounders, A Plus Finance, CM-CIC Capital Privé, the European capital funds Endeavour Vision and Sofina, and the American one Highland Capital Partners.