Gothenburg-based fashion e-commerce company NA-KD gets an extension of €20 million in funding as part of its Series B, making it worth €65 million in total. The extension was led by existing investors Partech, Northzone and eEquity, and included new investors Quadrille Capital and La Maison.
NA-KD official reports in net sales in 2018 are corresponding to 95 percent year-on-year growth rate for the e-commerce fashion startup. Along with the key metrics showing an over 90 percent growth trend in the first half of 2019, they triggered the recent round extension. Following that strong performance, the company completed an oversubscribed issue of new shares in the second quarter of this year.
Jarno Vanhatapio, CEO and founder comments on the 2018 results:
“2018 ended our third year since launch. We continue to invest heavily to be able to support our rapid growth and cater for our medium to long term profitability targets. Our market penetration is still at low levels with traction in over 80 markets.”
And that’s where localisation usually comes to play – to increase organic traffic to selected markets.
Bjorn Bergstrom, Head of Expansion at NA-KD, comments:
“By increasing our localisation efforts, we can serve customers in a better way. Our customer loyalty and repeat purchases are standing out amongst our peers and are continuing to improve quarter by quarter.”
According to Bjorn, NA-KD’s localised sites have been an important driver for the growth and the fast improvements of the operational results. By implementing automated translation processes, NA-KD is now fully localised in Germany, Austria, Switzerland, Netherlands, UK, US, France, Belgium, Sweden, Denmark, Norway, and Poland.