SevenVentures, the investment arm of the media conglomerate ProSiebenSat.1 Group, has received equity in online retailer for plus-size fashion Navabi, in exchange for media exposure that the former says will represent a "double-digit million" amount.
All previous investors at Navabi, including Index Ventures and Verdane, remain on board.
Navabi is using the round to achieve additional reach with its in-house produced commercials in the target group, levering the ProSiebenSat.1 Group's media assets. According to the startup, online retail revenue for clothes and shoes in Germany totalled 16.8 billion euros in 2018, an eight percent increase on the prior year.
Bahman Nedaei, co-founder of Navabi, which has been around for about a decade: "With this Media-for-Equity deal we can generate a huge TV presence and massively expand brand awareness. Thanks to the cooperation with SevenVentures and the broadcast of our TV commercials we can reach millions of households in Germany and show curvy women all over the country that there is great fashion for them."
Also check out our recent interview with SevenVentures’ Florian Pauthner.