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Fashion e-retailer Miinto.com raises $6 million
Miinto sells trendy apparel via a network of boutiques.
Miinto.com, which enables online shoppers to buy fashionable apparel from boutiques, has raised $6 million in a Series A funding round from Dawn Capital.
The e-retailer says it will use the capital to expand into new markets and to develop proprietary technology.
Miinto launched in Denmark in 2009 and has since expanded to at least six other countries, including Norway, Sweden and the United States. The company’s head office and photo studio is now in Miami. The company this year expects to take in 50 million Euros ($64.6 million) in revenue.
CEO Morten Larsen says his company works with some 1,650 fashion buyers from its network of boutiques. In the U.S., the company sells about 10,500 products from 2,000 brands, according to a tally on the site this afternoon.
“Miinto is a star performer on online fashion,” says Norman Fiore, who is partner at Dawn Capital and joins the e-retailer’s board. “Fashion continues to feature highly on search terms and Miinto’s business model has some very clear advantages.”