bmp Ventures invests 3 million euros in the eCommerce company X-Trade with the IBG funds
bmp Ventures AG ("bmp") invests with IBG Risikokapitalfonds III GmbH & Co. KG ("IBG") in the eCommerce company X-Trade, one of the leading independent online retailers in the fashion sector in Germany. The company receives 3 million euros.
X-Trade GmbH was founded in 2006 and has developed into a successful medium-sized company that sells shoes, sneakers as well as fashion and sporting goods of well-known brands. Since then, the Magdeburg-based company has supplied more than one million customers via its own online shop (www.tauro.de) and sales on all relevant marketplaces and platforms such as Zalando, Amazon, eBay, Otto, Klingel, Mirapodo and Co.
An interdisciplinary 85-strong team, the focus on online trading, own storage areas of over 10,000m² and a modern, IT-supporting and integrative warehousing technology enable the company to store large quantities on site and to dispatch them quickly and directly.
"The cooperation with bmp Ventures via the IBG funds helps us to accelerate our growth strategy", says founder and managing director Sascha Rosenau and adds: "With the support of bmp and IBG our software and IT infrastructure as well as our integrative IT-supported warehousing technology will be further expanded and optimised".
René Buhe, also founder and CEO of X-Trade, comments: "We are looking forward to a trusting, constructive and successful cooperation with bmp Ventures".
The team around the two founders is now growing rapidly at the company's headquarters in Magdeburg. "X-Trade is already one of the leading fashion e-commerce growth companies in Germany," says David Stuck, responsible investment manager at bmp Ventures. "The company's digital, innovative and data-driven business processes form the basis for the further scaling of the company. In this way, the company can remain competitive in the long term."
About the IBG Funds
The IBG funds based in Magdeburg are the venture capital funds of the State of Saxony-Anhalt. The IBG funds provide equity capital to innovative companies with sustainable and above-average growth potential and a registered office in Saxony-Anhalt. At the beginning of 2017, IBG launched the new risk capital fund RKF III with a volume of EUR 84 million. The fund is financed by funds from the state and the European Union and invests in innovative companies in Saxony-Anhalt in the business phases of seed, start-up and growth. The IBG funds are managed by bmp Ventures AG. www.ibg-vc.de
About bmp Ventures
With an experience background of over 250 investments from almost all technology sectors, most of which are in the early stages, bmp is one of the most experienced venture capital investors in Germany. In addition to direct investments, bmp has also managed venture capital funds for KfW Bankengruppe and DEG – Deutsche Investitions- und Entwicklungsgesellschaft. bmp currently manages the IBG funds in Saxony-Anhalt and the Early Phase Fund Brandenburg. bmp has around 20 employees in Berlin and Magdeburg.