Online eyewear store Mister Spex receives €16m cash injection for expansion2013-05-14 18
Berlin-based online eyewear store Mister Spex has received a €16m cash injection led by Scottish Equity Partners (SEP) for its growth and expansion strategy. The latest funding comes from the VC firm’s growth equity and venture capital fund, SEP IV, which launched in 2012 – DN Capital and Xange also participated in the round.
Last month, we talked to Mister Spex Managing Director Dirk Graber, who gave us a few hints about what’s coming down the pipeline: “We still have so many opportunities to tackle within the industry – we’re just at the beginning.”
Today he confirmed: “We will develop our international online stores for France, Spain and Sweden… and we are happy to have a new, experienced European investor on board.”
Launched in 2007, Mister Spex received support and funding from company builder Team Europe (also a shareholder in VentureVillage). The online eyewear store earned €26m revenue last year but revealed that it is not yet profitable, but hopes to achieve the milestone next year.
Currently, Mister Spex is available in Germany, France, Sweden and Spain.