Lesara, a Germany-based online fashion retailer backed by direct selling conglomerate Vorwerk, raised $40m in series C funding yesterday from unnamed new and existing investors based in the US and the UK.
Founded in 2013, Lesara operates an e-commerce store that focuses on offering consumers the latest fashion trends. Lesara has developed data analytics technology that means it only takes 10 days between identifying a trend to designing, manufacturing and selling relevant products.
The company works directly with suppliers across the world, adding some 2,000 styles each week to an inventory of 100,000 fashion and lifestyle products. The funding will go toward expansion efforts into Belgium, Denmark, Spain, Sweden and the UK.
Lesara previously raised $16.8m in series B capital in 2015 from Vorwerk’s corporate venturing unit Vorwerk Ventures, Mangrove Capital Partners and Northzone, which led the round.
Mangrove led the company’s $7m series A round in 2014 with participation from Funderguild, Partech Ventures and assorted angel investors. Lesara had previously received an undisclosed amount of seed capital from Partech and various individual investors.
Roman Kirsch, CEO and co-founder of Lesara, said: “The entire Lesara team puts in a vast amount of effort every day to grow our expansion and to continuously improve the shopping experience for our customers.
“The ongoing support and confidence from our existing investors as well as new ones is a confirmation for us, that they believe in our vision and potential just as much as we do and is, therefore, both reward and incentive to keep on going because there is still a lot we want to achieve.”