Sapato.ru, Receives $12M in Funding Led By Intel Capital
Sapato.ru is a fast growing online shoe e-tailer based in Russia. Launched in June 2010, the site holds a similar format to that of American company, Zappos.com. Sapato carries products from Russian designers, name brand footwear, and accessories at a discounted price. Currently, the site offers close to 6,000 models of shoes, including a select amount of accessories. The shoes are for women, men, and children from more than 200 brands. Sapato.ru is the first start-up by Fast Lane Ventures, a Russian venture company that launches, promotes, and accelerates innovative internet projects. Sapato currently has more than 100,000 active customers and has experienced a turnover growth of 50 times in just over a year.
This $12 million round, led by Intel Capital included participation from past investors Direct Group, eVenture Capital Partners, and Kinnevik. In total, Sapato.ru has raised funding of $20M to date.
The investment is planned to help the marketing of the company, improve the customer service, and expand the product range. The company wants to increase its brand awareness along with its reputation and image.
In a Press Release, Matthieu Lannegrand, CEO of Sapato.ru said, “[The] Russian e-commerce shoe market is very young but very promising.” If so, Sapato.ru’s recent investment shows growth to the new industry with a hopeful future outlook by investors.
By Samara Freschman