Mangrove Adds HomeMe.ru To Portfolio, Leads $5 Mln Funding Round

Three prominent investment houses in the Russian VC segment - Mangrove Capital, AddVenture and ABRT - have joined hands to provide a USD 5 mln funding to HomeMe, an online shopping portal for furniture and other lifestyle products. The Russian company has agreed to a 40 percent stake being handed over to the investors, who are led by Mangrove. The move puts the three investors in a better position to tap into the USD 400 mln Russian online home furnishing market, which is part of a massive USD 7 bln retail market for furniture and lifestyle products.

HomeMe.ru (homeme.ru )

HomeMe.ru was founded in 2012 by the founder of MySofaShop – Oleg Pay. The successful online furniture shopping store is now a part of HomeMe, which has a showroom in Moscow. The company is currently on an aggressive growth path, with a proposal already on the table to provide online customers with a virtual reality experience where they can enter a 3D room and select specific pieces of furniture. HomeMe provides access to some of the leading furniture brands in Russia, such as Good Style, DFS and Formula Couch.