Tofte & Company – Biva receives capital to pursue omnichannel growth strategy
We are proud to announce that the Danish online furniture company Biva has raised an undisclosed amount from a team of highly competent investors. Amongst these are 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 new board and the management of Biva will work hard to achieve the Company’s goal: to become the leading online furniture store.
“I am impressed with how far CEO Jesper Jørgensen and Sales and Marketing Director Rune Furbo has taken the new Biva version 2.0 already, and there is no doubt that the combination of these new investors and the Company’s potential is spot on. One thing is to find the right funding for a company, another is to connect the company with the right competences and experiences to make the company grow even further. I am sure that Biva will profit from these experienced profiles, when it comes to creating Denmark’s leading online furniture store,” says Sasja Dalgaard, Partner at Tofte & Company.
“The entire process of working with Tofte & Company has been of great value. Especially their financial advisory and the process of preparations has helped us not only to find investors, but to find the right investors. It has been impressing to experience a process where we end up being able to choose between a field of competent investors. Now we can make our vision a reality creating Denmark’s leading online furniture store,” says Jesper Jørgensen, Managing Director at Biva.
Jesper Jørgensen founded the new version of Biva together with Sales & Marketing Director Rune Furbo in 2014. They call it Biva 2.0 which – opposed to the old Biva – is an online furniture store with flagship stores in Aalborg, Fredericia and Copenhagen.
“Biva has in recent years undergone a transformation from an old school retail business to stepping into the online scene. Jesper and Rune has already taken the first steps, but as I see it, it’s just the beginning. There is a huge potential for a focused omnichannel strategy to make the company scalable. Therefore I am now supporting BIVA not only by investing money but also part of my time,” says Jimmy Maymann, former CEO of Huffington Post, serial entrepreneur and investor.
And when it comes to creating a successful online business Biva holds another strong card in hand. Christian Kusk, who in 2000 founded Stylepit – one of the leading online stores – has also invested in Biva and will become part of the board.
“I look forward to contributing with my experience and know-how on what mechanisms that drive online sales. With more than fifteen years of experience in online sales, I see tremendous potential for Biva, which in many ways follows the current trend that sales move from the physical stores to online,” says Christian Kusk.
And just the fact that revenue moves from the shops and on to the internet, is what has driven the vision of ‘the new Biva’ where you shop furniture while sitting at home on the couch, so to say.
In 2014 Rune Furbo and Jesper Jørgensen founded the new Biva, while transforming the company from being actual stores into an online webshop with three flagship stores. The ambitions for the future Biva is high, the goal is to become the leading online furniture store with a focused omnichannel strategy.