Major Russian e-commerce player KupiVIP raises $15.5m from MCI Management

Major Russian e-commerce player KupiVIP raises $15.5m from MCI Management

Updated with investment figure.

Russian e-commerce company KupiVIP Holding has announced that it has raised new funding from central European private equity group, MCI Management.

Ever been to a tech festival?

TNW Conference won best European Event 2016 for our festival vibe. See what's in store for 2017.

The company operates highly popular shopping club KupiVIP and a luxury version called KupiLuxe, as well as a range of other fashion-focused e-commerce brands in Russia, such as,, and

No amount has been disclosed for the new funding (although we’ll update here if we obtain the figure) UPDATE: MCI’s website reports the investment as totalling €12m ($15.5m). but it follows on from a $38m round in June this year, which was led by Intel Capital.

KupiVIP, which was founded in 2008, says that the new funds will be used to develop its order fulfillment process further, and to support the launch of new websites. This places the company in a position to further extend its Russian lead in the shopping clubs sector, which is quickly gaining traction around the world.

Image credit: Giuseppe Cacace/ Getty Images

Read next: Investment in software companies tops $3 billion in the third quarter of 2012

Here's some more distraction