Etsy announced it has raised $40 million in venture financing to help expand its artisan marketplace to other countries.
“We plan to grow Etsy into an economic force all around the world, and we want to provide more products and services to help sellers succeed and build their businesses on the Etsy platform,” says Etsy CEO Chad Dickerson in a blog post.
Recent moves have started Etsy down this path, including the addition of French and German translation, direct checkout and the acquisition of wholesale directory Trunkt.
“Expect things to move at a faster pace as we add even more resources,” Dickerson adds.
The Series F financing—meaning it’s the sixth round of funding Etsy has received—comes from its existing investors, including Burda, Union Square Ventures, Accel Partners and Index Ventures. Etsy has previously raised a total of $51 million, The New York Times reports.
Etsy also announced it has been certified as a B Corp., a type of company that uses the “power of business to solve social and environmental problems,” according to B Lab, the third-party organization that provides B Corp. certification. More than 500 companies have received the certification, including Dansko, Patagonia and Seventh Generation.
