Made.com raises £6 million in funding

An online furniture retailer has finalised a £6 million round led by US-based Level Equity, with additional investment from PROfounders Capital.

An online furniture retailer has finalised a £6 million round led by US-based Level Equity, with additional investment from PROfounders Capital.

London-headquartered Made.com, which sells art deco furniture designed by celebrity designers such as Damien Hirst, has seen popularity among online shoppers with annual turnover in excess of £2 million.

The business, which launched in 2010 with £2.5 million funding, is chaired by Lastminute.com co-founder Brent Hoberman, also a partner at PROfounders Capital.

The furniture company started with only 3 members of staff, it now employs 45 people.

Made.com co-founder and CEO Ning Li says: ‘This funding will help us grow our brand to become a household name.’

George McCulloch, founding partner of Level Equity says: ‘Ning and his team have built a substantial brand and business in a very short time.  

‘We are delighted to provide growth capital to accelerate their expansion and bring additional scale to the company.’

The £6 million series B funding will help the business move to a new HQ in Notting Hill and develop the website’s potential for international sales.

Brent Hoberman, co-founder and chairman of Made.com says: 'Since the launch of Made.com, it has become clear that online furniture sales are set for continued dramatic growth. 

'This funding will enable us to further establish Made.com as a breakthrough brand benefitting both consumers and designers.  The team will be supported with more talent and the stage for international expansion is now in place.'