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Index Ventures leads €2.5m Series A for France’s Rad

20 Jun 2013

Rad clothingASOS, Etsy and NastyGal backer Index Ventures had increased its exposure to the indie art and fashion market by leading a €2.5m Series A round for Rad.

The Paris-based company also received angel backing from The Kooples founding partner Nicolas Santi-Weil, who will join the Rad board, and New York’s Vaizra Seed Fund.

Rad, which offers its members “cool products, every day” and fosters unique collaborations with artists and designers across the world, said it planned to use the investment to expand its current team.

Martin Mignot from Index Ventures said, “We are delighted to be partnering with the Rad team, who have proven, in their short history, that they have an innate understanding of fashion, brands and design.

“Working with ground-breaking businesses like Etsy and NastyGal has proven to us that retail is an area undergoing enormous change and Rad has a great opportunity to become a global company in this space.”

Index invested in online clothing retailer NastyGal in August 2012 as part of a $40m Series B round.

That brand had grown from a one-woman eBay business launched by Sophia Amoruso in 2006 to a company with revenues of $28m in 2011.

The firm led a $40m financing round in handmade goods online marketplace Etsy in May last year.

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