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London’s Kreos joins Auctionata online auction house €42m round

Berlin-based online auction house Auctionata has closed a €42m Series C round of funding, led by MCI Management from Warsaw and joined by London’s Kreos Capital, Hearst Ventures from New York and Yuan Capital from Hong Kong.

The platform was founded in 2012 and started its auction livestream back in 2013. It now offers valuation, authentication, and curation, along with dealing with the auction itself.

Auctionata recorded net sales of €31.5m in 2014, but is on track to exceed that having already had a good first quarter, and will be focusing on “sustained growth” in new markets and moving into several net antique categories.

Sylwester Janik, partner at MCI Management, said:

“The company is an excellent example of what we look for in our investments: a disruptive business model combined with a high quality team and a leadership with strong industry experience.”

All existing investors participated in the round, they include Earlybird, e.ventures, Kite Ventures, Raffay Group, TA Ventures, Bright Capital, REN Invest and Holtzbrinck Ventures.