This article was published on October 24, 2012

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


Major Russian e-commerce player KupiVIP raises $15.5m from MCI Management
Martin Bryant
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Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-qualit Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-quality, compelling content for them. He previously served in several roles at TNW, including Editor-in-Chief. He left the company in April 2016 for pastures new.

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.

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 ShopTime.ru, shop.quiksilver.ru, mexx-shop.ru and shop.tsum.ru.

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