This is turning into a genuine investment trend across Europe: online shopping club KupiVIP.ru has managed to raise $8 million (£5.49 million) in second round funding from VC firm Mangrove Capital Partners, Arlana and ABRT, as Yakov reports. The Privat Trade-owned company has grown to 200,000 registered users since its launch last October and raised $3 million (£2.8 million) first round funding from the same investors.

It is the latest online shopping club to win big funding, following German fashion shopping club Brands4Friends which received €10 million VC funding in November. Munich-based VC BayTech led a €7.3 million (£6.8 million) round of funding for Europe-wide online fashion shopping club Private Outlet in September and Barcelona-based shopping club Privalia won €4 in VC funds in July (via Thealarmclock.com)