Home24 Raises EUR 20 Million in a Funding Round
- Rocket Internet participates with EUR 1.4 million in Home24 funding round
- Funding round at a EUR 420 million post-money valuation
- Rocket Internet's post transaction ownership will be 42.9%
Berlin, Germany, September 7, 2016 -The Home & Living online retailer Home24 AG ("Home24") signed a EUR 20 million funding round at a EUR 420 million post-money valuation, which previously stood at EUR 981 million. Rocket Internet SE ("Rocket Internet") participates with a EUR 1.4 million investment in this round. Baillie Gifford and other investors are also participating in this round. As a result of the transaction, Rocket Internet's combined direct and indirect stake will decline to 42.9%, from previously 44.6%.
"With the proceeds from this funding round, Home 24 is well positioned to reach its strategic goals", says Oliver Samwer, CEO Rocket Internet.
"After a phase of strong growth and infrastructure expansion, we shifted the focus on making sustainable process and system improvements, paving the way towards profitability", says Philipp Kreibohm, founder and management board member of Home24. "The investment from this funding round enables us to continue to improve the customer experience as well as our logistics network and technology platform."
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About Rocket Internet
Rocket Internet builds and invests in Internet companies that take proven online business models to new, fast-growing markets. Rocket Internet focuses on five industry sectors of online and mobile retail services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise, Home & Living and Travel. Its network of companies operates a variety of business models in over 110 countries on six continents with more than 36,000 employees at the end of 2015. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.
This document contains forward-looking statements. These statements are based on the current views, expectations and assumptions of the management of Rocket Internet SE ("Rocket Internet") and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those described in such statements due to, among other things, changes in the general economic and competitive environment, risks associated with capital markets, currency exchange rate fluctuations and competition from other companies, changes in international and national laws and regulations, in particular with respect to tax laws and regulations, and other factors. Rocket Internet does not assume any obligations to update any forward-looking statements.
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