After a USD 700 million funding round, online commerce company Berlin Brands Group (BBG) has cracked the coveted one billion mark. The round was led by Bain Capital and follows upon USD 240 million funds raised earlier this year.
“BBG is a disruptive market leader in the rapidly changing consumer goods sector,” Bain Managing Director Miray Topay told business newspaper Handelsblatt.
BBG sells some 3700 self-designed products under 34 brand names via 1000 online portals in 28 countries. It has access to 1.5 billion customers, employs 900 people and generated revenues of more than EUR 334 million in 2020.
“With Bain Capital’s engagement and these additional resources, we’ve reached the next milestone on our journey to becoming a global house of brands,” BBG founder and CEO Peter Chaljawski told Handelsblatt.
The company says it will invest the new funds in expanding its logistics capacity and its presence in English-language markets.