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Hot Russian e-commerce startup Lamoda has raised an insane $130 million in funding, the largest Russian e-commerce investment to date.
Moscow-based Lamoda sells clothes, shoes, accessories, and more online with the option for next-day shipping in Russia and Kazakhstan. It was incubated by the Samwer Brothers’ infamous Rocket Internet. Since its founding in 2011, Lamoda has served more than 1 million customers and attracts more than 20 million unique visitors every month.
The last Russian e-commerce startup that attracted anywhere near this funding was Ozon, which got $100 million back in 2011. But Lamoda clearly beat that out with aims to grow even more quickly.
“The investment allows us to continue building out our position as the leading fashion e-commerce retailer in Russia and the CIS,” Lamoda co-founder and CEO Niels Tonsen said in a statement. “We are focused on offering the best possible customer experience paired with a unique product offering of local and international brands. With Lamoda Express we are already serving important parts of Russia with next-day delivery. We will use the new investment proceeds to make this unique value proposition available to ever-increasing numbers of our clients this year and beyond.”
The new funding round was provided by Access Industries, Summit Partners, and Tengelmann. Access Industries has notably invested in Rocket Internet companies before, with investments in Pinterest-like site Pinspire and home decor site Westwing.
Lamoda has more than 1,200 employees with offices in Russia and Kazakhstan. Like many other Russian e-commerce startups, Lamoda offers free shipping and try-on service and a loose return policy.
Screenshot via Lamoda