Russia’s KupiVIP can attract additional $ 40-50 M

KupiVIP online store can attract $40-50 M needed for the extension in the regions and buying its own warehouse. The investors are Russia Partners, Mangrove Capital, Balderton Capital, Bessemer Venture and possibly Intel Capital Fund, RBC daily said referring to sources in the market of venture capital investments. The first four funds are the current investors of KupiVIP.

Interestingly, that in the Intel Capital company declined to comment on the publication until the completion of the transaction, but Oscar Hartman, one of the KupiVIP Company founders, said that a new tranche of investment for the company is not supposed to come.

The Intel Capital Fund, in spite of the relations with the high-tech parent company, invests not only in tech startups in Russia. For example, it invested in an online store Sapato last year, specializing in shoes. It seems that KupiVIP, an online store selling branded goods with discount (up to 70%), got in the Fund’s sphere of interest.

KupiVIP is actively attracting venture capital, constantly increasing amounts of investment. The first tranche totaled $ 3M, the second round of investments brought the company $ 8M, the third round was led by RussiaPartners, BaldertonCapital and Bessemer Venture Partners and brought $55 M.