Berlin-based Outfittery secures €13 million in new funds
Outfittery has bagged €13 million in new financing so it can grow in other European markets, TechCrunch reported.
The startup current has operations in Germany, Switzerland and Australia. Proceeds from the latest funding round will also be used to add more to its line of men's outfits so that it can continue to give members more fresh pieces, the report said.
Funding for the curated shopping service that focuses specially on men's clothing was led by Germany's Highland Capital Partners Europe. Existing investors also joined in the round. They are Holtzbrinck Ventures, Mangrove Capital Partners, High-Tech Gründerfonds, RI Digital Ventures and IBB Beteiligungsgesellschaft-managed venture capital fund Kreativwirtschaft, the report said.
The total financing raised so far by the Berlin-based startup is not known since it was able to secure an undisclosed amount in a previous funding round. Outfittery is a disruptive startup considering that it is founded by women, the report said.
Female entrepreneurs Anna Alex and Julia Bosch formed the company in 2012. Using a shopper's preferences, Outfittery uses personal shoppers to curate customized outfits for men. The outfits are then sent to the shopper but the customer actually pays for the outfits they decide to keep, the report said.
There are currently 100 employees in the firm. This includes a 50-strong workforce of female "style experts" that provides the personal shopper element of the curated shopping service. Outfittery said they already have over 100,000 customers, the report said.
TechCrunch reported that the company now has clothes from 150 fashion brands on its platform. Information from its website showed that the top brands on Outfittery include Gant, Jack Jones, Tiger of Sweden, Tommy Hilfiger, Strellson, Marc O'Polo, Levi's and Scotch&Soda.
Outfittery offers shirts that start from €40, t-shirts that start at €20, suits that start at €300 and pants from €100. It also offers jackets that start from €50, shoes from €80 and accessories at prices that start from €30, its website showed.