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Home24 raises $22.7 million for its online furniture retail service

Berlin-based, Rocket Internet-backed online furniture retailer Home24 has raised €20 million (about $22.7 million) and reinforced its management team to get to profitability and to try and take on IKEA in Europe (via Reuters). The fresh capital comes from both existing and new investors, the company said in a statement.

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Christoph Cordes and Marc Appelhoff, respectively the CEO and founder of ‘Fashion for Home’, a German rival that Home24 acquired last year, will help lead the loss-making Berlin startup along with its founder, Philipp Kreibohm (all three are pictured above from left to right).

Current CEO Domenico Cipolla will step down from the management team in May and pursue new challenges, Home24 said.

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This post first appeared on Tech.eu.

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