Rocket-Backed Global Fashion Group Raises $364 Million
- Berlin web investor contributes 68 million euros in round
- Value of emerging markets e-tailer drops to 1 billion euros
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Rocket Internet SE, Germany’s highest-profile startup investor, contributed 68 million euros to a 330-million-euro ($364 million) funding round for its startup Global Fashion Group, completing a deal first announced in April.
The financing values Global Fashion Group at 1 billion euros, less than half what the holding was worth last year. Rocket said three months ago that it planned to invest more in the startup at the lower valuation.