Zurbarán advises on Lico Cosmetics’ €1m first financing round
Zurbarán Abogados represents the Sevillian startup Lico in its first round of financing, whose registered amount was one million euros. In this way, Lico, dedicated to the cosmetics sector, closes this round with the management company Bewater, which has a 15% stake in the company.
The firm´s team included Ricardo Torres, partner of the corporate and private equity/venture capital department, and Ana Barroso, lawyer of the corporate department.
Lico Cosmetics is part of a growing trend in the purchase of women’s cosmetics products online, and the development of digital native brands in this space. The market for online sales of these products in Spain is still small, less than 500 M€ in 2021 (source Stanpa), but it grew strongly in 2021 (+58%) and is expected to continue to do so in the coming years.
Estefania, the entrepreneur, is a chemical engineer by training. When she couldn’t find a solution for her skin problems, she started formulating products that did and selling them online. The result has been a spectacular growth in sales in the last 2 years, going from 77 k€ to 2 M€ of turnover, with positive cash flow.
