Spartoo secures €12m in funding to accelerate European growth
Transaction managed by Clipperton Finance
Paris-London, January 13, 2010 – Clipperton Finance, a leading European corporate finance boutique focused on the High Tech and Media industries, today announced the closing of a €12 million Series B round of financing for Spartoo, the European leader in Internet footwear sales, to accelerate growth and reinforce its N°1 position in Europe.
This funding round has been led by Highland Capital Partners and Endeavour Vision, who have been joined by existing investors A Plus Finance and CM-CIC Capital Privé.
Commenting on the transaction, Boris Saragaglia, co-founder and CEO of Spartoo, said: “In a very short time we have gained the position of uncontested leader in the European market. We are delighted to partner with top-tier investment funds and build on Spartoo.com’s solid foundation to realise the next stage of our company’s growth”. Boris added: “To work with Clipperton Finance was instrumental in the success of this significantly oversubscribed financing round. They have proven extremely valuable throughout the entire process, showing strong commitment and reactivity. Their execution was excellent, reflected by the quality of new investors and with an optimal process tailored for Spartoo and its team”.
Thomas Neveux and Stéphane Valorge, Partners with Clipperton Finance and in charge of the transaction, commented the new round: “Financing is key for Internet companies, especially at Spartoo’s stage of development. The company is experiencing significant growth opportunities a result of its genuine customer focus, this combined with the team’s analytical strength makes Spartoo highly capital efficient. We are delighted to have helped Spartoo build up a successful team of investors in such an exciting period of its development.”
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About Clipperton Finance
Based in Paris and London, Clipperton Finance is a European corporate finance boutique dedicated to the High Tech and Media industries. Clipperton is focused on start-up and high-growth companies in the Internet, Software, Telecom, Components, CleanTech, MedTech and Media spaces, advising them in their financial transactions: fundraising/capital increases and Mergers & Acquisitions. Over the past years the company and its team have successfully structured numerous high level international transactions in the European High Tech sector.