NA-KD announced raising €40 million, adds Ernström & Co as investors in the company.

Na-kd, a Gothenburg, Sweden-based ecommerce company, announced a capital raise of €40 million ($47.9M).

The money was raised from new and existing shareholders, namely investors from Sweden including Ernström & Co.

The company says it will invest the proceeds in sustainability, new categories and new markets.

Post deal, Partech Growth and Northzone are the largest owners, with almost 19% each, Jarno Vanhatapio owns around 10% followed by eEquity with 9%.

Na-kd, founded in 2015 by serial entrepreneur Jarno Vanhatapio, built an ecommerce operation selling fashion items based on a a consumer brand for women.

The company produced revenue of approximately SEK 2 billion ($240M) in 2020 and it previously raised about $90 million from investors including Northzone, eEquity and Partech Ventures. LAst round was announced in 2019 at $23M.