Tengelmann helps Westwing soar to $99m

Apr 4, 2014 • Robert Lavine

Tengelmann Ventures, the corporate venturing arm of German retail firm Tengelmann Group, has invested in a €72m ($98.7m) equity round raised by Germany-based e-commerce company Westwing.

Tengelmann was joined the round by other existing backers including investment firm Odey Asset Management, Access Industries, Holtzbrinck Ventures, Kinnevik, and Summit Partners. Financial services firm Fidelity Worldwide Investment participated in the round as a new investor.

Founded in 2011, Westwing uses a shopping club model to sell home and living products online across…

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