Online optician Mister Spex has secured $40 million of funding in its second financing round, including an undisclosed sum from UK-based venture capital firm Scottish Equity Partners (SEP).
Mister Spex is based in Berlin and has a strong online presence in Europe – including the UK. It has shown impressive growth since it was founded in 2007 and last year the company’s turnover was around €47 million.
Co-managing director Dr Mirko Caspar puts the success down to “Europe’s largest range of immediately available eyewear at fair prices, an appealing online shop and an exceptional all-round service package”.
“We will now build on our proven business model to further advance the online shopping experience for eyewear internationally,” he said.
Goldman Sachs led the second funding round for the fast-growing business. The company’s own investment arm has reportedly invested in a minority stake of 20% in the company.
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Andrew Wolff, MD and head of Goldman Sachs Merchant Banking Division, said the bank had been “impressed with the achievements of Mister Spex”.
He went on to praise the company’s “innovative business model, strong organic growth and high-quality management team”.
SEP partner Stuart Paterson, who is also on the board of Mister Spex, said that as “the majority shareholder”, the firm welcomed the investment of Goldman Sachs.
Mister Spex CEO and founder Dirk Graber had the final word. He explained that the funds raised will be allocated to the effort to cement Mister Spex’s position as the market leader in Europe.
“The current round of financing is the best confirmation of our consistent and successful pioneering work in a highly attractive market,” he added.
Further reading for Goldman Sachs investments