European beauty-tech startup raises millions of financing

Beauty-tech startup Goodiebox from Denmark raises €5.7 million

European beauty startup raises millions of financing. Source: shutterstock.com

Goodiebox, a beauty box subscription service from Denmark, has raised 5.7 million euros in a Series A funding round, Ecommerce News reports. Among the investors are new and existing parties, including InQvation and the Danish Growth Fund.

The beauty-tech startup says it wants to use the new investment money to grow further in Europe. The Copenhagen-based company aims to have a total of 150,000 subscribers and 3,3 million euros in monthly revenue by the end of this year.

Currently, Goodiebox has about 80,000 subscribers five markets across Europe: Denmark, Sweden, Norway, the Netherlands and Belgium. The e-commerce company has plans to expand further across Europe: later this year, the opening in four new markets, including Germany, is planned.

CEO and cofounder Rasmus Schmiegelow says the company’s performance in its home market of Denmark has enabled them to roll-out to other EU countries like the Netherlands, Norway and Belgium.

Goodiebox was founded in 2012 and offers a monthly subscription service. It’s all about a box filled with 5 to 7 different beauty products for women. The company has also developed its own range of cosmetics and skin care products. With the recent funding, the total amount raised by the company is now over 9 million euros.

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