KupiVIP raises US$55mn

Published: April 27, 2011

Russian e-commerce business attracts three new investors.

KupiVIP, a Russian online retailer, has raised US$55mn to develop the company.

Along with existing investors including Accel Partners and Mangrove Capital Partners, the fund raising attracted three new investors: Balderton Capital, Bessemer Venture Partners and Russia Partners.

Last year the company raised US$20mn funding from its initial investors. Its 2010 revenue grew by 600% on the previous year.