Venture capital firms BV Capital and Alven Capital have invested €5m in myfab.com, an on-demand manufacturer of designer furniture and housewares.
Paris-based Alven Capital was involved in the first round of funding in January 2008, ahead of the website’s sales launch. The second round funding will be used to fund the company’s expansion into the German market.
Partner in BV Capital, Christian Leybold said: “We are impressed with myfab’s plans for international expansion and the potential of the markets they are aiming for. We are excited about supporting the company’s pending launch in Germany.”
Founded in 2003, myfab claims it can save consumers up to 90% through factory direct buying. With offices in Paris, Shanghai, Hong Kong and Hamburg the company employs 80 people.