German-based Online fashon e-commerce Zalando has raised €40.7m ($53.1m) in a debt-financing deal with banking and financial services company Commerzbank, Sparkasse Mittelthüringen and German government-owned development bank KfW Bankengruppe.
Zalando is backed by Tengelmann’s corporate venturing unit and other corporate-linked groups. In February, Zalando raised an undisclosed amount selling a 4% stake to DST Global, the venture fund of Russian businessman Yuri Milner. Its other investors include Tengelmann Ventures, Holtzbrinck Ventures, the former corporate venturing unit of Georg von Holtzbrinck Publishing Group,…
