Fashion e-tailer Nasty Gal has secured a further $40 million (£25.3 million) of development capital to add to the $9 million it received in March.
Founded in 2006 by Sophie Amoruso, US-based Nasty Gal will now look to further invest in technology, operations, manufacturing and creative production with an eye to increasing its global footprint.
As part of the deal, London and Geneva-based Index Ventures, which has other fashion-based e-tailers in its portfolios such as Net-a-Porter and ASOS, will place partner Danny Rimer on the board of Nasty Gal.
According to venture capital firm Index, Nasty Gal has achieved growth of 500 per cent each year since its inception, as well as 10,000 per cent in the past three years, and now has 350,000 customers in 60 countries. Some 35 per cent of its sales occur outside of the US.
Rimer says that until the firm came across Nasty Gal, it hadn’t seen a fashion retailer with ‘such a deep understanding’ of social commerce.
He adds, ‘Sophie Amoruso is a very talented and thoughtful leader, and is demonstrating a new way for retailers to communicate with their customers.’
Amoruso says that the new $40 million funding will allow the business to grow ‘from the inside out’.
‘We’re excited to continue to evolve the Nasty Gal experience. This funding gives us the ability to stretch creatively while continuing to explore new and unique ways to connect with our customers,’ she says.
‘Capturing the opportunity internationally is extremely important to us as we continue on this awesome trajectory.’