LetsBuyIt, which suspended trade in December over bankruptcy fears, said it was to relaunch "as soon as possible" after clinching a 52m euro (�33.1m) cash injection from shareholders and new investors.

The investment should be enough to take the company beyond breakeven point, forecast at November 2002, an official statement said.

But while LetsBuyIt has failed to identify details of the new support, investors do not include high-profile internet entrepreneur Kim Schmitz, reports said.

Mr Schmitz, who as a hacker in the early 1990s claimed to have altered the credit rating of the then German chancellor Hulmut Kohl, two weeks ago pledged backing of 50m euros for LetsBuyIt.

He was also among contributors last month to a 4m euro (�2.55m) pot which gave the etailer sufficient short-term cash to stave off bankruptcy.

Revival plan