Industrifonden leads an investment round totalling EUR 4 M for the auction search service Barnebys. The funding will be used to bolster the company’s international expansion in the form of both marketing and recruitment.
Barnebys is an auction search service with more than half a million items and just over one thousand searchable auction houses. 80 percent of the company’s revenues are generated internationally and, of these, the US accounts for about 20 percent. The company has experienced strong growth and has doubled its sales since 2014.
“More and more people are becoming interested in auctions in general, and that’s particularly true with regard to buyers interested in artworks, antiques and collectibles. To be able to find and buy objects online gives the buyer a wider range of products to choose from than conventional retailers can offer”, says Christopher Barnekow, founder and CEO, Barnebys.
The investors include new and existing owners, led by Industrifonden and ACTIVE Venture Partners. The new owners include Inbox Capital, a company owned by IT entrepreneur Martin Wattin.
”Industrifonden is very excited for the strong position Barnebys has built in the fast-growing market for online auctions. We are very happy to have led Barnebys latest investment round to secure the continued international rollout, including strengthening of the US presence”, says Hadar Cars, Investment Manager at Industrifonden.
For more information, please contact
Hadar Cars, Investment Manager, Industrifonden
Tel: +46 735 44 58 45
Christopher Barnekow, founder and CEO, Barnebys
Tel: +46 70 521 35 70
Industrifonden is a Swedish venture capital firm, investing in fast-growing early-stage tech and life sciences companies. Industrifonden is a long-term partner to exceptional founders with big ideas, committed to enabling innovation and growth. Founded in 1979, Industrifonden is a reinvesting evergreen fund with SEK 4 billion in assets. Read more: Web, Twitter, LinkedIn.