The company behind the Danish fashion portal Miinto, which acts as an online sales channel for more than 1,800 fashion brands and designers, has reportedly raised a new funding round.
Miinto is in a strong position. The startup reports that they have crossed 1 billion DKK in sales (€ 135 million), and the current marked is good for e-commerce. The latest official numbers report a loss of 47 million DKK (€ 6 million) for the finacial year 2019/2020. Miinto has recently expanded its business in another five countries: Germany, France, the United Kingdom, Italy and Spain.
The investors have invested over € 20 million (149 million DKK) in this round.
“The capital will be used to conquer new markets and even more market shares in the existing countries, where there is still great potential. At the same time, we will scale our tech and product team significantly. Our platform is doing really well, but we believe we can do even better by putting more resources after it. “says Konrad Kierklo, CEO and founder of Miinto, to finans.dk.
The main investor in this round is reported to be Anders Holch Povlsen, the billionaire behind the clothing retailer Bestseller.