Online auction house Auctionata closes €42m funding round
Online auction house Auctionata has completed its series C financing round with a total new investment of €42 million (US $45 million).
The round is led by stock-listed MCI Management from Warsaw. Auctionata also welcomed Hearst Ventures from New York, growth investor Kreos Capital from London and Yuan Capital from Hong Kong as new investors.
All existing investors participated in the round, among them Earlybird, e.ventures, Kite Ventures, Raffay Group, TA Ventures, Bright Capital, REN Invest and Holtzbrinck Ventures.
Auctionata said that in 2015, its core focus will be on sustainable growth. The funding will be used to further grow leading auction categories like Watches, Classic Cars, Wine, Jewelry, Design, Contemporary Art, Fine Art, Antiques and Asian Art, to prepare the launch of new categories such as Musical Instruments and Memorabilia, Architectural and Garden, Diamonds and Luxury Real Estate, as well as to further develop the livestream auction format and to grow the global seller and buyer base in general.
Auctionata’s founder and CEO Alexander Zacke explained: “Since the launch of the weekly live stream auctions in May 2013, Auctionata has grown considerably and has successfully positioned itself among the global leaders for online auctions of art, antiques and luxury collectibles. In the future Auctionata will focus on efficient growth and thereby lay the ground for both organic and non-organic category and geographic expansion.”
Sylwester Janik, Partner at MCI Management added: “We are excited to back Auctionata’s ambitious growth plans. The company is an excellent example of what we look for in our investments: a disruptive business model combined with a high quality team and a leadership with strong industry experience.”
Auctionata’s advisor on this growth funding round was the international investment bank GP Bullhound.