German online homewares retailer Westwing has received 25 million euros ($29.7 million) in new funding from existing investors including founding shareholder Rocket Internet.
Rocket Internet said in a statement that based on the financing round, Westwing’s valuation rose to 449 million euros from 353 million.
Founded in Munich in 2011, shopping club Westwing offers thousands of furniture and homeware products online daily from pillows to lamps and sofas in 15 markets, mostly in Europe, but also in Brazil.
Other Westwing investors include Swedish investment firm Kinnevik (KINVb.ST) and U.S. private equity fund Summit Partners.
(Reporting by Emma Thomasson; Editing by Arno Schuetze)
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