Made.com hires new CFO and secures new equity funding
Furniture retailer Made.com has appointed a new chief financial officer and secured £40 million in new equity funding to be used for expansion.
In addition to a new tier 1 global institutional investor, the funding round includes commitments from existing investors Partech Ventures, Level Equity and Eight Roads Ventures.
The new investment will be used to accelerate growth and launches into new markets, develop new showrooms across Europe and grow Made.com’s digital capabilities.
The fundraising follows another year of growth for the company when revenues increased by 40% to £127 million.
Made.com has also appointed Adrian Evans as its chief financial officer. Evans has joined the business from online fashion group Yoox-Net-A-Porter where he held various senior management roles including commercial director, finance director and strategy director. As finance director of Net-A-Porter group, Evans oversaw the merger with Yoox.
Philippe Chainieux, chief executive of Made.com, said: “We continue to scale rapidly across Europe, and I am pleased to confirm that Made.com has reached profitability in 2017 in the UK, France and Benelux, and is now cash flow positive at the group level. We have had a strong start to 2018 and are very excited about the future.”
Hear Julien Callede, founder of Made.com, speak at TRB's Retail Customer Engagement Summit on 5 June.
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