As you might know very few women receive VC funding. In the seed round you received $3,5 mio from Grazia Equity and Btov Partners. Tell us about your experience while raising money for your start-up? Which factors do you think helped you to succeed in it?
It is very important to have a strong vision and a mission with purpose. As a founder, what we want to achieve with gitti is to revolutionise the beauty industry!
I think it is important to do your homework before starting talking with VCs. What can they bring to the brand? What is their mindset? Does that fit with gitti?
We are very proud that just now we have closed a Series A round with 6,9 million Euros with existing investors and XAnge as a new international partner.
The lead investor is the Paris and Munich-based venture capital firm XAnge, which supports visionary founders with strong values and ambitions in their international roll-out. Existing partners btov and Grazia Equity are also back on board and are further increasing their investment.
We are so pleased and proud that within less than one year after our first financing round we could now close this Series A round. This will allow us to focus our attention on ramping up internationalisation and extending our product range.
With XAnge, we now have a partner by our side who shares our values and is helping us to push ahead with our vision. Despite the current circumstances caused by the coronavirus crisis, in 2020 we increased our revenues by 1,200% compared to the previous year.
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