Online fashion retailer The Iconic has received an additional $28 million in new funding led by family-owned Belgian company Verlinvest.

Existing shareholders Investment AB Kinnevik, a global investor with interests in Europe, South America, Africa and Asia-Pacific, and Summit Partners, a leading U.S. based growth equity firm, also participated in the fundraising, signalling investors’ confidence in the online retailer after a successful period of growth.

“The Iconic management team has done an exceptional job of growing the company during the past year and we are happy to be investing in this great success story,” says Frédéric de Mevius, founder and chairman of Verlinvest. “We have been working towards this investment for some months now and are pleased to confirm our participation.”

The $28 million is in additional to over $50 million previously raised by The Iconic. Other existing investors include J.P. Morgan, and global ecommerce incubator Rocket Internet.

Adam Jacobs, co-founder and managing director of The Iconic, said the investment is a boost of confidence that will allow the company to further enhance its top range of local and international fashion brands, reinforce the convenience of its website, and build on its customer service.

“As a business we are focused on positioning ourselves for the future, and are delivering on our goals for long-term sustainable growth. We believe in the fast-growing Australian ecommerce industry and want to provide Australians with the best online fashion shop they can imagine,” he said.