Outfittery receives 20 million dollars from Northzone
OUTFITTERY will use this fresh capital to further expand its leadership of the European curated shopping market. The young company’s vision is to fundamentally change the fashion market and to uncompromisingly adapt it to men’s requirements. As market leader and pioneer in this sector, OUTFITTERY has driven personal service and the curated shopping industry for more than three years. With Spotify investor Northzone, OUTFITTERY has brought into its circle of investors an international heavy hitter.
Berlin, March 2, 2015. With OUTFITTERY, Northzone has added another business model to its impressive portfolio of internet success stories. The venture capital fund focuses on disruptive business models, and has stated that it only invests in exceptional teams with ground-breaking business models. It has supported internet successes such as Spotify, Trustpilot and iZettle. In addition, existing investors Highland Capital Partners, Holtzbrinck Ventures and Mangrove Capital Partners have all increased their commitment to OUTFITTERY.
“Northzone shares our conviction that an uncompromising customer focus and strong service culture are the critical success factors for companies. Customers don’t want to be just a number in the system, they want to be seen as human beings. For us, personal service isn’t a feature, it’s the heart and soul of our business. Northzone is the perfect partner to revolutionize the male fashion industry,” said Julia Bösch, CEO and co-founder of OUTFITTERY. OUTFITTERY is currently active in eight European markets and plans to add more this year.
Hans Otterling, Partner at Northzone, explained the investment as follows: “OUTFITTERY, like Spotify, is a disruptive business model that rethinks an entire industry. We see curated shopping as the next evolution of ecommerce. With its vision and business model, OUTFITTERY has achieved exceptional growth since inception and we are impressed by the entire team and their dedicated customer focus.”
OUTFITTERY makes it easier for men to shop for fashion online. Customers simply answer a few questions about their clothing style and sizes at www.outfittery.de. OUTFITTERY’s style experts then personally contact them and put together individual outfits which are conveniently shipped to their homes. Customers keep whatever they like and send the rest back. OUTFITTERY offers this innovative service free of charge. The Berlin company was founded in 2012 by Julia Bösch and Anna Alex and now employs 150 people. 80 style experts are solely dedicated to the fashion desires of their customers. Over 100 high-quality fashion brands are currently on offer. The start-up is currently active in Germany, Austria, Switzerland, the Netherlands, Belgium, Luxembourg, Sweden and Denmark, and is used by more than 200,000 men.
Founded in 1996, Northzone has to date raised seven funds and invested in some 100 technology companies. The current portfolio includes companies such as Spotify, Avito.ru, Trustpilot, WideSpace and Spaceape. The company has offices in London, Stockholm, Oslo, Copenhagen and New York. For further information, visit www.northzone.com.
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