Kaufmann Mercantile, a New York-based online retailer, raised $3.2m in funding.
The round, which followed a $530k seed round raised in 2013, was led by Alex Zubillaga’s 14W with participation from Dave Morin of Slow Ventures and individual investors such as Justin Shaffer, among others.
The company intends to use the capital to hire people, increase marketing efforts and to launch its own in-house produced label during 2015.
Led by founder and CEO Sebastian Kaufmann, Kaufmann Mercantile offers an emporium of fine-made products from over 300 manufacturers in more than 20 countries. It has lifetime revenue of nearly $6m with almost 180,000 products sold to date from home accessories and kitchenware to original sundries and outdoor tools.
The company plans to launch its first private label in early 2015, which will focus on products in either stagnant markets or those that lack balance in both quality and price.
FinSMEs
20/11/2014