Factory14, a Luxembourg-based company looking to build an e-commerce holding group, has emerged from stealth with $200m in combined equity and debt financing from investors including publisher Daily Mail and General Trust, according to TechCrunch.
The corporate co-led a seed round through its DMG Ventures arm together with DN Capital, while VentureFriends and unnamed others also invested. Victory Park Capital took part in the equity deal and provided the credit facility in full, but individual figures were not disclosed.
Factory14 focuses on acquiring marketplace sellers with a view of helping them grow through economies of scale. It has purchased four businesses so far, most lately buying Pro Bike Took, a direct-to-consumer seller of own-brand bike accessories and tools, for an undisclosed sum.
The debt financing from Victory Park Capital will serve to finance additional acquisitions.
Manuel Lopo de Carvalho, chief executive of DMG Ventures, said: “E-commerce is undergoing structural changes which are enabling thousands of exciting new brands to be born every day.
“Factory14 can provide these brands with the tools, capital and expertise that enable them to play in the big leagues.”
