Made.com bags £40m for European expansion

Online furniture retailer Made.com has secured £40m to grow its company across Europe.

As reported in The Times, it’s recent funding came from from existing investors Partech Ventures, Level Equity and Eight Roads Ventures, as well as a new backer, which they declined to identify.

Susanne Given, chairman of Made.com, took to LinkedIn to comment on the news: “Feeling very proud of Made.com’s talented team; Philippe Chainieux, Adrian Evans and Annabel Kilner to name but a few, who are building on the great foundations put in place by our founding team.”

Made.com was founded in London in 2010 by Ning li, Chloe Macintosh, Julien Callede and Brent Hoberman, a serial entrepreneur and investor.

It now operates across seven different European countries, including an office in Shanghai, and employs over 300 people.

The platform offers made-to-order, designer furniture – from lighting to garden chairs – without any third party involvement.  It also offers TalentLab – a chance for designers to upload their creations and have the public back their favourite.

The retailer has now raised a total of £97.54m following this latest funding announcement. However, it it is yet to make a profit.

In 2016, the business made a pre-tax loss of £6.1m on revenue of £91m.

According to Made.com, last year its sales increased by 40% to £127m.

Check out our UK tech investment tracker for the latest industry deals.