Permira makes EUR150m investment in Catawiki
Catawiki, a curated online marketplace for special objects, has secured a EUR150 million investment, led by Permira through its Growth Opportunities Fund.
Founded in 2008 in the Netherlands, Catawiki has grown into the most-visited curated marketplace for special objects in Europe, providing a safe and reliable experience to over 10 million passionate users. Every object is carefully selected by one of its 240-plus in-house experts who are specialised in collectables, art, design, jewellery, watches, classic cars and more. Its unique business model has earned a strong vote of confidence from its users, enabling the company to earn over 80 per cent of its revenue from returning buyers and sellers.
With this funding round, in which existing shareholder Accel also participated, Catawiki aims to grow its user base by investing in technology, marketing and hiring more experts across Europe. The investment will also provide liquidity for a number of early investors and employees.
Ravi Vora, CEO of Catawiki, says: “Our mission is to become the most popular destination for special objects across the globe, starting with Europe. This investment is the latest confirmation that we are delivering on this mission. It’s also a strong recognition of the hard work of our team.”
“I’m very happy to welcome Permira as our new partners. Their expertise and knowledge will be invaluable as we expand into more markets” Vora adds.
Dipan Patel, Partner and Head of Consumer at Permira, says: “Catawiki has created the definitive pan-European curated marketplace for rare and unique items, delighting its passionate enthusiasts along the way. We’re thrilled to back Ravi and his team to accelerate their investments in product, marketing and geographic expansion.”
Martin Gibson, partner at Accel and Chairman of the Board at Catawiki, says: “Catawiki’s business model is unique as it enables everyone to discover and buy special objects that help them fulfil their passions. And while the company is already a fast growing business with healthy profit margins, it has only just begun scratching the surface of its addressable market. We’re excited to participate in this round.”