Berlin-based art marketplace Juniqe has announced that they have pulled in 5 million Euro in new funding from new investor Vorwerk Ventures, as well as current backers Redalpine, High-Tech Gruenderfonds and CEWE. Although Juniqe does not reveal the amount that they previously raised, they have told us that it was a “seven-figure sum.”
We are familiar with Juniqe, having covered them last August. The store is already quite active abroad, serving 14 European countries and reporting that 40% of their sales have come from outside Germany (all told, they sell 9,000 pieces from 400 artists). Bolstered by this latest round of funding, they intend to further establish an international presence with a French-language version of their site, as well as stores geared towards customers in Switzerland, Sweden, and Denmark, which will use the local currency and local payment options. The company says that they have witnessed growth of 60% month-over-month and since their platform launched in January 2014 and generated sales “in the seven figures” last year.
In addition to plans for expansion, Juniqe says that they intend to soon roll out a tool that will allow customers to contribute their favorite motifs, in collaboration with the team of professional curators at Juniqe, which would ostensibly inject some creativity into the shopping experience.