Permira underlines Catawiki's growth trajectory with €150M investment
AMSTERDAM, 7 DECEMBER 2020 - Catawiki, Europe’s leading curated online marketplace for special objects, announced a €150 million investment, led by Permira through its Growth Opportunities Fund.
Founded in 2008 in the Netherlands, Catawiki has grown into the most-visited curated marketplace for special objects in Europe, providing a safe and reliable experience to over 10 million passionate users. Every object is carefully selected by one of its 240+ in-house experts who are specialised in collectables, art, design, jewellery, watches, classic cars and more. Its unique business model has earned a strong vote of confidence from its users, enabling the company to earn over 80% of its revenue from returning buyers and sellers.
With this funding round, in which existing shareholder Accel also participated, Catawiki aims to grow its user base by investing in technology, marketing and hiring more experts across Europe. The investment will also provide liquidity for a number of early investors and employees.
Ravi Vora, CEO of Catawiki, said: “Our mission is to become the most popular destination for special objects across the globe, starting with Europe. This investment is the latest confirmation that we are delivering on this mission. It’s also a strong recognition of the hard work of our team.”
“I’m very happy to welcome Permira as our new partners. Their expertise and knowledge will be invaluable as we expand into more markets” Vora added.
Dipan Patel, Partner and Head of Consumer at Permira, said: “Catawiki has created the definitive pan-European curated marketplace for rare and unique items, delighting its passionate enthusiasts along the way. We’re thrilled to back Ravi and his team to accelerate their investments in product, marketing and geographic expansion.”
Martin Gibson, partner at Accel and Chairman of the Board at Catawiki, said: “Catawiki’s business model is unique as it enables everyone to discover and buy special objects that help them fulfill their passions. And while the company is already a fast growing business with healthy profit margins, it has only just begun scratching the surface of its addressable market. We’re excited to participate in this round.”
Notes to Editors
The transaction is subject to customary conditions and is expected to close in the next months.
Arma Partners acted as exclusive financial adviser to Catawiki in connection with this transaction. JP Morgan acted as exclusive financial adviser to Permira in connection with this transaction.
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Catawiki is the most-visited curated marketplace in Europe for collectables, art, design, jewellery, watches, classic cars and more. Every week, its 240+ in-house experts carefully select over 65,000 special objects to put up in auction. Through its protected marketplace, users are assured of an exciting, safe and hassle-free buying experience. Headquartered in Amsterdam, Catawiki has close to 650 passionate employees working across its European offices serving customers around the world. It has 10 million unique monthly visitors and is now a large, fast growing business with healthy profit margins. For more information, visit https://www.catawiki.com or download the Catawiki mobile app.
Permira is a global investment firm. Founded in 1985, the firm advises funds with a total committed capital of approximately US$50bn (€44bn) to make long-term investments in companies with the objective of accelerating their performance and driving sustainable growth. The Permira funds have made over 250 private equity investments in four key sectors: Technology, Services, Consumer and Healthcare.
Permira Growth Opportunities focuses on minority investments in fast-growing and tech-enabled businesses. Since the Fund closure in July 2019, it has invested in a number of companies, including Mirakl, FlixMobility, Zwift, an online fitness platform for cyclists and runners, and Klarna, an innovative payments company. For more information, visit www.permira.com.
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