MADE.COM, an online furniture group chaired by the Lastminute.com co-founder Brent Hoberman, yesterday announced it had raised £6m in a second round of funding.
The New York-based investment group Level Equity led the fund-raising, supported by PROfounders Capital, a London venture capital group in which Hoberman is a partner.
Ning Li, the firm’s 29 year old founder, said he hoped the group would “democratise the designer furniture market” by offering products at competitive prices.
Li declined to give any revenue or earnings figures but claimed that the business was running profitably.
He added that “the furniture sector wasn’t dead, although consumers are buying more online”.