Booktopia has rebounded from an aborted $10 million crowdfunding campaign last year to land double that amount as it pushes towards becoming the company leading book retailer.
Champ Ventures CEO and co-founder Su-Ming Wong and JBS Investments CEO and founder John Sampson led a consortium of investors in a $20 million capital raise as the privately-owned Australian venture marks 16 years online.
Wong will join the Booktopia board as part of the deal. The raise includes a long-term portion of debt and the funds will be used towards expansion of e-commerce retailer’s Sydney warehouse. The company has posted 30% growth year-on-year for more than a decade. Its market share by revenue is on track to climb past the country’s leading book retailer Big W, in the next year.