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  • Portfolio News
  • 03 January 2017
  • 7 min read
  • Words: Northzone

NA-KD.com raises 14 MEUR

We are very happy to welcome to the Northzone family, the Swedish fast fashion e-commerce retailer NA-KD.com, as we lead a 14 MEUR investment round, alongside eEquity.

The company was founded by serial e-commerce entrepreneur Jarno Vanhatapio (previously Nelly.com and Zoozoo.com) in April 2015, and NA-KD.com has been operational since December the same year. In just a year, the company has achieved impressive traction, with annual net revenues of 22MEUR (220 MSEK), and sales to over 140 countries.

The e-commerce market is still growing fast, expected to reach USD 4.1 trillion in 2020, from USD 1.9 trillion in 2016, and there is an attractive opportunity for companies that are part of the next wave of e-commerce, especially those that can reach generations Y and Z.

Jessica Nilsson, who led the investment, comments: “We like e-commerce companies that have a unique twist to their business model, a global ambition and a laser sharp focus on their customer segment. NA-KD has all of these factors, and with their innovative business model, the team is trying to change the industry from the ground up. NA-KD has achieved exceptional growth since the launch in 2015, and we are impressed by their ability to establish a global customer base, and a strong brand, through a combination of e-commerce and social media. We are also impressed by Jarno and the team’s drive, ambition, and track-record within e-commerce. We are delighted to be a part of NA-KD’s journey, and have a strong belief in what they can achieve in the global market.”

CEO and Founder of NA-KD Jarno Vanhatapio adds: “In our first year of operation, we’ve already had a lot of inbound interest from venture capital firms in the Nordics, Europe and the USA. This is as a result of our fast global traction, which has been the engine to our growth. For us, it’s important that our investors share our global view, and have a capacity that matches our ambitions over the coming years. In Northzone and eEquity, we have found two investors that rate highly internationally. Besides capital, they will support the Board with relevant knowledge around the process of internationalisation, with their strong track-records of investments in companies like Spotify, Bloglovin’ and WhiteAway. I am especially happy that both their representatives on our Board have a strong entrepreneurial e-commerce backgrounds.”