Rad, a Parisian startup eCommerce site, announced a new Series A funding round led by Index Ventures, reported The Next Web. Index Ventures also backs highly popular global eCommerce sites such as ASOS and Etsy. Rad, described as a hipster-styled marketplace, sells products in addition to supporting artist and designer collaborations dubbed "Rad" products. The site launched 11 months ago, and has nearly one million members.
Rad will use the investment round to fund its imminent launch into the UK and German market. The company also said it has plans to invest in further developing logistics, production and marketing to prepare for the roll out. Moreover, Rad plans to use the money to hire more team members.
David Smadja, the co-founder of Rad, stated, "This investment will help us on our way to developing our brand... Our goal is for our members to create products with us on a massive scale, turning Rad into an incubator for young talent and designers."
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