GA_P advises Freshly Cosmetics on €18.9m financing round

Gómez-Acebo & Pombo has advised Freshly Cosmetics on the entry of Blossom Capital as a new investor in the company’s share capital

Freshly Cosmetics has closed an €18.9 million financing round led by UK Venture Capital fund Blossom Capital. The funds raised will be used for the company’s international expansion and the development of new products, investing in R&D to create new products and environmentally friendly packaging. One of their first steps will be the opening of their first physical shop in London: the Freshly Store London. This would be the company’s second major opening in 2021, following the opening of the Freshly Store Valencia on 1 October.

Freshly Cosmetics is a company dedicated to the production of natural cosmetics. The start-up recorded a gross operating profit (ebitda) of €3.5 million and a positive net profit. It generates 10% of its sales abroad and hopes to increase this percentage to 20% by 2021. The company’s main markets are Italy, France, Belgium and Portugal.

Miquel Antolín, CEO of Freshly Cosmetics, pointed out that “this investment will allow us to exploit the full potential of the Freshly team, with the main objective of continuing to demonstrate that another cosmetics is possible.” The Blossom Capital fund has values closely aligned with those of the company and its team is “full of energy and we are delighted to have them on board”. On the other hand, Alex Lim, managing partner of Blossom Capital, said that that “Freshly Cosmetics is an emerging company with an eye on the future and values its commitment to natural ingredients and sustainability as the basis for a new type of cosmetics company.”

GA_P advised Freshly Cosmetics with a Corporate/M&A team formed by partner Álex Pujol (pictured left) and associate Diana Urrego (pictured right).