Etsy, an online market place where users sell their own handmade goods, has raised $40m in new capital in a recent funding round led by Index Ventures and joined by existing investors Union Square Ventures, Accel Partners and Burda.
The company announced the news in a blog post, which said, “Today, we are announcing that we are adding some new resources to match our world-changing ambitions.
“Etsy has closed $40m of funding from a roster of investors who have been believers in Etsy for a long time. In fact, all of Etsy’s existing investors – Burda, Union Square Ventures, Accel Partners, and Index Ventures (who led this investment round) – committed to Etsy in a big way.
“They’ve continued to invest all along because they fundamentally believe in Etsy and what we’re doing. I couldn’t be happier to have such a committed set of partners who “get it” along for the next stage.
“What do we plan to do with the money we’ve raised? Two simple things, really: we plan to grow Etsy into an economic force all around the world and we want to provide more products and services to help sellers succeed and build their businesses on the Etsy platform.
“You’ve seen a start in some of these areas — our Etsy in German and French launches, the beginning of the direct checkout rollout to make transactions smoother on Etsy, and our recent acquisition of Trunkt to provide a stepping stone for new kinds of wholesale opportunities for sellers. Expect things to move at a faster pace as we add even more resources.”
The full blog post can be read here.
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