Russian electronic commerce site KupiVIP.ru has raised $20 million in a funding round led by Accel Partners. The Moscow-based company has been operating for a year and it has more than a million members in its online shopping club. KupiVIP.ru sells discounted fashion goods from 500 different brands. Oskar Hartmann, chief executive, said that the round was the largest investment to date in a Russian e-commerce vendor. Other investors are Mangrove Capital Partners, ARLAN, Direct Group and business angel, Oliver Jung. Sonali De Rycker from Accel will join KupiVIP.ru’s board. The company previously [...]

Continue Reading...