Germany-based online shopping club Pauldirekt has attracted an undisclosed sum, described as a ‘mid-seven figure’ sum from Vorwerk Direct Selling Ventures, the corporate venturing unit of Germany-based diversified corporation the Vorwerk Group, and Venturecapital.de. Venturecapital.de is the venture capital fund backed by banking consultancy firm Corporate Finance Partners (CFP) and Founders Investments.
Patrick Bosch, chief executive officer of Pauldirekt, said: "We have acquired two superb partners in Vorwerk Ventures and CFP. Their well-founded know-how and networks will help us significantly strengthen the market position of pauldirekt. Vorwerk Ventures is an established, financially strong investment partner for young innovative companies, boasting a direct channel of distribution to customers, while CFP has a unique network in the e-commerce sector."
Launched in 2008, Pauldirekt is a shopping club focusing on consumer and electronics goods, and currently has more than 1.3 million members. Pauldirekt is planning to use the fresh capital to expand its membership and accelerate growth.