Biva raises undisclosed amount from a range of Danish high profile investors.
Biva, a Copenhagen, Denmark-based online furniture shop, raised an undisclosed amount from a team of high profile local investors.
They include Jimmy Maymann (former CEO of Huffington Post and well known serial investor), who becomes chairman of Biva’s board, ecommerce expert Christian Kusk (founder of Stylepit), who will also enter the board and Christian Høyer (CEO at Wunderwear). The money will be used for further growth of the company, in order to become a leading online furniture store.
Biva is led by CEO Jesper Jørgensen, who took in 2014 the company from bankruptcy and founded a new version of Biva together with Sales & Marketing Director Rune Furbo. They transformed the company from being actual stores into an online webshop with three flagship stores in Aalborg, Fredericia and Copenhagen.
The latest annual report indicates that Biva recorded revenues of DKK 4M ($570k) and a loss after tax of DKK 1.3 million.