Swedish fashion ecommerce startup NA-KD has raised €14 million in a funding round led by Northzone with participation from Swedish fund eEquity.

The new funds will be invested in global expansion as well as inventory and improved customer service. According to NA-KD.com, it has annual net revenues of €22 million with a majority of sales coming from outside the Nordics.

The company was founded and launched in 2015 by Jarno Vanhatapio and employs 90 people between its Gothenburg office and a forthcoming Stockholm office, due to open in the first quarter of this year. It added that it has plans for a Dutch-based depot too.

“In our first year of operation, we’ve already had a lot of inbound interest from venture capital firms in the Nordics, Europe and the USA,” said Vanhatapio. “This is as a result of our fast global traction, which has been the engine to our growth. For us, it’s important that our investors share our global view, and have a capacity that matches our ambitions over the coming years.”

Northzone partner Jessica Nilsson described NA-KD as having a “unique twist” on fashion ecommerce by mixing online sales with pop up stores and making most of its revenue from sales of its own brands.

“We are also impressed by Jarno and the team’s drive, ambition, and track-record within e-commerce,” she said.

This latest news from NA-KD follows a funding round last summer of around €3.6 million.

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