Rocket Internet’s Global Fashion Group has raised a $35 million funding round from existing backers Tengelmann Ventures and Verlinvest. The company is now valued at $3 billion post-funding. Rocket Internet owns 23% of the company, while Kinnevik owns 25.4%. Global Fashion Group has also announced the appointment of Romain Voog as CEO. “I am thrilled to join GFG as CEO. I look forward to working with our outstanding teams on the next stage of developments of our five regional businesses and to building the leading fashion e-tailer of emerging countries”, said Voog.
Indian mobile payments company MobiKwik has raised $25 million in funding, led by Tree Line Asia. Strategic investors Cisco and American Express also participated, as did Sequoia Capital. The funding is reportedly part of a $100 million Series C round being targeted by the New Dehli-based company. “We are delighted to have American Express and Cisco on board. We intend to leverage their strong understanding of financial transactions, user behavior and bleeding edge technology to make MobiKwik the most trusted way to pay in India,” MobiKwik founder and CEO Bipin Preet Singh said in a statement.
Temando, a fulfillment software platform, has secured a $50 million Series B investment round from Neopost. The company will use the funds for continued growth in the U.S. and the U.K. “We are thrilled to have the backing of such a major player in our industry,” said Carl Hartmann, Temando co-founder and CEO. “Neopost’s strategic stake in Temando will help us continue improving the most complete and advanced fulfilment platform available today. Our technologies will enable retailers to deliver flexible, world-class experiences for their customers that save time and money.”
FirstFuel Software, which provides customer intelligence to energy providers, has closed a $23 million Series C round led by Next World Capital. New investor Electranova Capital also participated, along with previous backers Battery Ventures, Rockport Capital, Nth Power and E.ON SE. FirstFuel has now raised a total of $45 million since it was founded in 2010. “The energy provider markets are facing a sea change stemming from new technology advances in distributed generation, a dynamic regulatory environment and increased competition. In the face of this complexity, a large determinant of success will be their ability to help customers navigate energy options,” said Swapnil Shah, CEO, FirstFuel. “Recognizing the immense value of deeper customer relationships, providers are asking us to help them understand each and every customer’s energy usage and needs.”
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