The two partners made use of an option granted to them during the last round of funding earlier this year, whereh they were allowed to carry out a further capital increase under the same conditions. Both purchased a further share of around five per cent in the company.
“We’re pleased that DST Global and Kinnevik decided on this additional investment. We’re off to a very good start into the current season which, in turn, caused our shareholders to want to invest further funds in Zalando. This provides further financial substance to Zalando for building up the firm over the next few years,” said Rubin Ritter, managing director of Zalando GmbH.
Zalando was founded in 2008 by Robert Gentz and David Schneider, and its headquarters are located in Berlin. Zalando now caters to neighboring European countries, breaking in to Austria in 2009 and the Netherlands and France in 2010. In 2011, expansion to Italy and Great Britain followed.
Other shareholders include including Rocket Internet, Holtzbrinck Ventures and Tengelmann Ventures.
DST has previously invested in Facebook, Zynga, Groupon, Twitter, 360buy and Alibaba. In December last year the firm joined General Atlantic in a $155m financing round for Swedish online payments service Klarna.
Copyright © 2012 AltAssets
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