Two former corporate venturing units of Germany based companies have backed Fashion for Home, a Germany-based online shop for designer furniture.
Acton Capital Partners, formerly the corporate venturing unit of media company Hubert Burda Media, led the round and was joined by Holtzbrinck Ventures, formerly the unit of publishing company Georg von Holtzbrinck Publishing, in the deal.
The deal was in “the lower double-digit millions” and incubator Rocket Internet sold its shares in the company as part of the deal.
Fashion for Home was founded in 2009.
Sebastian Wossagk, Acton investment partner, said: “Fashion for Home operates in a very large, traditional market. The share of online sales in furniture retail is currently still low. The trend towards purchasing furniture online is, however, visibly growing. Because Fashion for Home purchases directly from the manufacturer and cuts out the middleman, they are able to offer their customers high-class furniture, both in terms of design and quality, at highly attractive prices.”
Rainer Maerkle, a partner at Holtzbrinck Ventures, said: “We are impressed with the developments made by Fashion for Home since we came on board in 2009. In addition to the company’s convincing business model, this is in particular down to its excellent management team. We’re excited that we can continue to support Fashion for Home’s growth in conjunction with Acton and the other investors.”