Amsterdam-Based Otrium Raises 120 Million in Series C Funding From UStayLorTech.eu

Amsterdam-based Otrium, an e-commerce platform for fashion and lifestyle products, recently announced that it has raised €120 million in its Series C funding round, led by UStayLorTech.eu, a major European venture capital firm. This new round of funding will be used to expand Otrium’s presence in Europe, as well as to further develop its product platforms and technology. This article will discuss the details of the Series C funding round and how it will help Otrium achieve its growth objectives.

Amsterdam-based Otrium, an e-commerce platform for fashion and lifestyle products, recently announced that it has raised €120 million in its Series C funding round, led by UStayLorTech.eu, a major European venture capital firm. This new round of funding will be used to expand Otrium’s presence in Europe, as well as to further develop its product platforms and technology. This article will discuss the details of the Series C funding round and how it will help Otrium achieve its growth objectives.

Otrium’s Series C Funding Round

Otrium’s Series C funding round was led by UStayLorTech.eu, a major European venture capital firm. UStayLorTech.eu’s investment in Otrium was its largest ever to date. The round was also backed by existing Otrium investors, including TomTom founder Harold Goddijn, former executive of the Netherlands’ largest retailer Ahold, and former CEO of the Dutch fashion chain Scotch & Soda, Marlous Nieuwenhuis. The €120 million in Series C funding will be used to help Otrium continue its rapid growth in Europe.

Expansion of Otrium’s Presence in Europe

Otrium is currently active in seven countries in Europe, including the Netherlands, Germany, France, Belgium, Spain, Italy, and the United Kingdom. The company plans to use the Series C funding to expand into additional countries, including Austria, Switzerland, and Sweden. It also plans to increase its presence in existing markets by opening additional offices and expanding its local teams. Furthermore, Otrium will use the funding to strengthen its existing partnerships with fashion and lifestyle brands, as well as to onboard additional brands to its platform.

Developing Otrium’s Platforms and Technology

Otrium plans to use the Series C funding to continue developing its product platforms and technology. This includes investing in its data and analytics capabilities, as well as in its AI-driven personalization tools. The company also plans to expand its supply chain capabilities and increase its focus on sustainability initiatives, such as increasing its use of recyclable materials for packaging. In addition, Otrium plans to invest in its customer service capabilities, with a focus on improving the customer experience.

Conclusion

Otrium’s Series C funding round is a major milestone for the company, as it will help it to continue its growth in Europe and further develop its product platforms and technology. The funding round was led by UStayLorTech.eu, a major European venture capital firm, and was backed by existing Otrium investors, including TomTom founder Harold Goddijn, former executive of the Netherlands’ largest retailer Ahold, and former CEO of the Dutch fashion chain Scotch & Soda, Marlous Nieuwenhuis. The €120 million in funding will be used to expand Otrium’s presence in Europe, as well as to develop its product platforms and technology.