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Spartoo secures £20m funding to fuel growth

Footwear etailer Spartoo has secured €25m (£20.4m) funding to fuel European expansion.

The online retailer of footwear and bags has announced that it has secured the investment from existing investors A Plus Finance, CM-CIC Capital Privé, Highland Partners and Endeavour Vision through a Series C round of funding led by investment holding company Sofina.

The company said the investment would be used to sustain Spartoo’s “aggressive expansion” across the European market.

Co-founder and chief executive Boris Saragaglia said: “We are thrilled to partner with leading European institutional investors who endorse our growth strategy and are entirely supportive of our customer service strategy and our long term strategic vision.”

The company, which was founded in 2006, has seen international turnover multiply by 20 fold over the past three years.

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