BARCELONA, Oct--3--PRNewswire-AsiaNet The Service Provider for the Global Leather Sector Is Backed by All First Round Investors Plus Logispring, the Venture Capital Fund Whose Shareholders Include Dutch Blue Chip TPG NV and US Consultant Booz-Allen & Hamilton; Italy's Pino Venture Partners srl Also Invests LeatherXchange, the service provider for the global leather industry, today announced it has secured 7.5 million euros in second round financing. This is one of the largest venture capital investments this year in a vertical sector services provider with a significant electronic commerce presence, and will enable the company to grow and consolidate its operations. The financing reaffirms the confidence of leading venture capitalists in LeatherXchange's future and recognizes its growing influence in the $110 billion global leather sector. All investors from the first round participated in the second round including lead investor Gilde IT Fund, Amadeus Capital Partners, CRI (Santander Central Hispano) and Latin Rim. The second round also marks one of the first investments for Logispring, the venture capital fund whose principal shareholders are Dutch logistics and mail giant TPG NV and the US management consultant Booz-Allen & Hamilton. Also investing in LeatherXchange is Italy's Pino Venture Partners srl. Since its inception in 1999 LeatherXchange has raised almost 20 million euros. The company will use the additional capital to strengthen its business worldwide. LeatherXchange, with a physical presence in 12 countries and some 500 customers in more than 40 countries, provides the leather industry with online buy-sell transaction services and sector content; offline services such as inspection and consulting; and customized ASP (application service provider) services to help leather companies develop private exchanges. Its customers are slaughterhouses, tanneries, leather products manufacturers, traders, agents and major shoe, garment and upholstery brands. The company projects 2001 revenues of almost 1 million euros, which it expects to more than quadruple in 2002 to 4 million euros, the majority of which will come from customer membership fees. LeatherXchange anticipates to breakeven in the fourth quarter of 2002. "This financing round is indicative of the steadfast confidence, commitment and support of our customers, employees and investors," said LeatherXchange CEO Jose R. Suarez. "The dedication and client focus that brought us this far will also be the defining characteristics of LeatherXchange as it moves ahead to achieve even greater success." SOURCE: LeatherXchange CONTACT: Brad Pick of Edelman Worldwide, +34-93-488-12-90, or [email protected], for LeatherXchange