Kennet leads €14.9m investment into BuyVIP

Madrid-based online retailer BuyVIP has announced the completion of a €14.9 million financing round led by Kennet Partners.


Madrid-based online retailer BuyVIP has announced the completion of a €14.9 million financing round led by Kennet Partners.

Madrid-based online retailer BuyVIP has announced the completion of a €14.9 million financing round led by Kennet Partners.

Kennet will invest up to €11.1 million in the financing and joins existing investors Bertelsmann Digital Media Investments 3i Group and Molins Capital inversion.

BuyVIP is a private member’s online marketplace offering discounts on branded goods that are either end of line or not available through retail outlets.

Gustavo Garcia Brusilovsky, chief executive of BuyVIP, says: ‘Kennet is the ideal investor for BuyVIP because of its expertise in developing international businesses.’

Kennet recently announced a €6.5 million investment in Copenhagen-based video advertising company GoViral.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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