Fashion ecommerce company NA-KD has announced a $45 million Series B round led by Partech Ventures.

Other participants in the investment include Northzone, eEquity, FJ Labs, and the founders of classifieds site Avito.

According to the Swedish company, it grew more than 150% in 2017 with a revenue run rate on nearly $75 million while moving its main distribution centre to the Netherlands and relaunching its website.

The company will continue to invest in growth in 2018 in the US, UK, and major European markets by launching nine new localised sites.

“Our bottom-line results are moving towards profitability exactly as planned,” said CEO Jarno Vanhatapio. “More than 80% of sales are coming from private label brands with strong gross margins. This development has given us some profitable markets already in our second year, and all in all the company is profitable post-marketing cost.”

NA-KD relies heavily on social media influencers to market its products, gaining most of its traction on Instagram in Germany; it will continue to grow this influencer network globally in 2018.

“The capital injection is growth capital and will primarily be used to improve the customer proposition and experience, offer a broader inventory and intensified international marketing activities,” said Magnus Emilson, executive chairman of NA-KD. “Today the company employs 138 people and with the Series B investment, the company will look to further strengthen all departments with high performing talents.”

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