KupiVIP Raises $55 Million In Third Round Of Funding

KupiVIP is the largest online private members shopping club in Russia for purchasing designer brands. KupiVIP has raised $55 million in a third round of funding. The investors in this round include Balderton Capital, Bessemer Venture Partners, and Russia Partners. Other investors in this round include Accel Partners and Mangrove Capital Partners.

KupiVIP plans on using the funding to start selling consumer goods. KupiVIP has seven million registered users and revenues have increased 600% year on year. KupiVIP is based in Moscow, Russia by 28 year old German entrepreneur Oskar Hartmann. KupiVIP currently has 750 employees.

[TechCrunch Europe]

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