KupiVIP received €12M from a foreign investor

Russian holding KupiVIP, working in e-commerce, received regular funding from European investors: Polish group MCI Management will buy out an additional €12M issue of the holding. KupiVIP plans to spend the received investment on the development of existing projects as well as producing its own brands of clothing and accessories.

Holding KupiVIP was founded in 2008 by Oskar Hartmann. It includes the eponymous shopping club, online boutique KupiLUXE.ru, online store and Shoptime.ru launched in early 2012 and E-Commerce Services project which develops and maintains online stores of retail brands. The holding also includes KupiVIP Germany to search for European brands for selling in Russia and CIS.

The holding does not disclose the data on its revenue, but representatives of KupiVIP claim that the number of registered users of its services is about 9M people. MCI Management received a minority stake in the company by purchasing an additional issue of the holding for €12M (about $15.5M).

Thus, the total investment in KupiVIP has already exceeded $140M: $38M from Accel Partners, Balderton Capital, Intel Capital, Acton Capital Partners in June 2012, and $55M from Russia Partners, Balderton Capital and Bessemer Venture Partners in April 2011, $20M from funds Accel Partners and Mangrove Capital Partners in January 2010, and the investment from French Direct Group, ABRT and Arlan Investments Group funds.

The holding plans IPO on the New York Stock Exchange no later than in 2014, and expects to raise more than $120M.