The leading Russian online shoe retailer Sapato.ru attracted second round of financing
eVenture Capital Partners, Investment AB Kinnevik and Fast Lane Ventures announced the second round of financing for Russian online retailer Sapato.ru. Investment volume exceeds 5 million dollars. Sapato.ru was launched in spring 2010 by Fast Lane Ventures and got first money in June from the investors eVenture Capital Partners, Direct Group and Investment AB Kinnevik. Sapato.ru management intends to use the raised money primarily to increase assortment and brands. Currently, it offers more than 3,000 models from 100 of well-known brands, in 2011 Sapato.ru management aims at offering more than 10,000 different shoe models for men, women and children. New investment will also be spent to further improve customer service and for brand building. “Online footwear market is still immature and has a lot of potential. We are glad that we have the opportunity to build the leading online shoe store in Russia.” comments CEO of Sapato.ru, Matthieu Lannegrand, on the financing round. “We are excited about the potential for Sapato.ru and the investment reflects our belief in e-commerce as well as our focus on Russia as a good market to develop internet related services”, says Henrik Persson, Head of Investment at Investment AB Kinnevik.