Online market place Etsy said it raised $40 million in new capital in a deal led by Index Ventures and joined by existing investors Union Square Ventures, Accel Partners and Burda. The news was released in a blog post, which noted that $525 million changed hands on the Etsy market place last year. Here is an excerpt From blog post
“Today, we are announcing that we are adding some new resources to match our world-changing ambitions. Etsy has closed $40 million of funding from a roster of investors who have been believers in Etsy for a long time. In fact, all of Etsy’s existing investors — Burda, Union Square Ventures, Accel Partners, and Index Ventures (who led this investment round) — committed to Etsy in a big way. They’ve continued to invest all along because they fundamentally believe in Etsy and what we’re doing. I couldn’t be happier to have such a committed set of partners who “get it” along for the next stage.
What do we plan to do with the money we’ve raised? Two simple things, really: 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. You’ve seen a start in some of these areas — our Etsy in German and French launches, the beginning of the direct checkout rollout to make transactions smoother on Etsy, and our recent acquisition of Trunkt to provide a stepping stone for new kinds of wholesale opportunities for sellers. Expect things to move at a faster pace as we add even more resources.”
Find the full post here.