London-based online furniture retailer Made.com just announced a $55 USD million funding round. With its ambitions to take over Europe’s modern home furniture market, the British retailer is set to heavily accelerate its growth through 2018.
Existing shareholders renew their trust in Made.com’s strategy
Last year, the group has increased its net revenue by more that 40 percent, reaching about $178 USD million. In addition, the retailer has recently shown to be profitable in France, the UK and Benelux. Following such good news, there is no questioning as to why its existing shareholders decided to reaffirm their commitment.
Philippe Chainieux, CEO of Made.com, announced that “The funds raised will facilitate faster growth in existing and new markets across Europe.” It is unclear which countries the group is planning to target, but it suggests that even brighter days are coming.
Confirming the company’s strategy, Made.com’s future will not be exclusively online. It is planning to open showrooms in new European cities, in addition to London, Birmingham, Leeds, Paris, Amsterdam and Berlin.