Further Omnichannel extension and international expansion: Mister Spex closes financing round of 65 million euros
Europe’s leading online optician has completed a 65 million euro financing round. The Büll Family Office led the equity round with participation from existing investors (e.g. Grazia Equity, Stephan Schambach und Ehssan Dariani), while Global Growth Capital provided a senior debt facility. The company enjoyed strong growth and profitability in 2018, and the investment will enable the company to accelerate this strong momentum with further development of its retail store portfolio and acceleration of its international expansion plans.
“The continued success achieved over the past year yet again underlines how our business model has changed the whole eyewear sector,” said Dirk Graber, founder and co-CEO of Mister Spex. “The current financing round will enable us to invest in further growth, and we have established three clear strategic priorities: further expansion of our retail store network, internationalization and additional investment into logistics. Through the Büll Family Office, we are delighted to have gained a very experienced partner in the retail sector, which will allow us to gain further momentum. Global Growth Capital has provided a complimentary debt structure to support our store expansion strategy.”
“We, as well, are convinced of the Mister Spex brand and the business model and are therefore very pleased to be part of this success story in the future. In view of our many years of experience in the commercial real estate sector, we will support the management in its expansion with our own stores,” says Albert Büll, founder of the Büll Family Office.
“We believe that Mister Spex has developed a unique business model that not only harnesses changes in consumer behaviour but also leverages multiple online and offline distribution channels to drive profitable growth,” said Olya Klüppel, partner at Global Growth Capital. “We are very exited to partner with their talented team.”
Incorporated in 2007, Mister Spex has since become a leading online optician offering an extensive product portfolio of over 10,000 prescription glasses, sunglasses and contact lenses to three million customers in ten countries. In line with its omnichannel strategy, the company operates eleven of its own retail stores in Germany, and has developed a wide network of partner opticians in Germany, Austria, Switzerland, the Netherlands and Sweden.
“Our continued success underlines our belief in combining the best of both worlds: online and offline,” added Dr Mirko Caspar, co-CEO of Mister Spex. “Sales in our online shops continue to grow strongly. However, our experience shows that through the unique combination of online shops, our own retail locations and over 500 partner opticians, we are able to add an additional layer to the consumer experience and fully address the market potential. We remain committed to our omnichannel strategy.”
About Mister Spex
Mister Spex GmbH is Europe’s leading online optician. Through its website, the Berlin-based company offers, alongside contact lenses, the most comprehensive range of directly available designer glasses and sunglasses in Europe, all at attractive prices. In addition to transparent pricing and cost savings for complete prescription glasses, customers benefit from free services such as eye tests and glasses adjustments, as Mister Spex already works in partnership with more than 500 local opticians in Germany, Austria, Switzerland, the Netherlands and Sweden. The Mister Spex service team is made up of qualified opticians providing customer advice by telephone or e-mail. The company has its own edging and mounting lab in Berlin, where the final production and quality control of the glasses takes place. Throughout Europe the company counts more than 3 million customers. In February 2016 Mister Spex opened its first store in Berlin and was honored with the Red Dot Award for its innovative store concept in the same year. By now there are in total eleven Mister Spex stores.
About the Büll Family Office
The Büll Family Office is a single family office based in Hamburg. Its activities focus on real estate development, climate-intelligent real estate management, renewables, growth financing for start-ups and venture capital.
About Global Growth Capital
Global Growth Capital organises tailor-made, innovative debt capital solutions with a ticket volume of between €5 and €50 million. The flexible approach to structuring and efficient decision making enables tech-driven companies and the entrepreneurs behind them to grow sustainably. www.globalgrowthcap.com
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven startups. With EUR 895.5 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 540 startups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech startups in a range of sectors, including software, media, internet, hardware, automation, health care, chemistry and life sciences.
To date, external investors have injected over EUR 2 billion into the HTGF portfolio via more than 1,400 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies. Investors in this public-private partnership include the Federal Ministry For Economic Affairs and Energy, the KfW Capital, and Fraunhofer-Gesellschaft e.V., as well as the companies ALTANA, BASF, BAYER, B.Braun, Boehringer Ingelheim, Robert Bosch, BÜFA, CEWE, Deutsche Post DHL, Dräger, Drillisch AG, EVONIK, EWE AG, FOND OF, Haniel, Hettich, Knauf, Körber, LANXESS, media + more venture Beteiligungs GmbH & Co. KG, PHOENIX CONTACT, Postbank, QIAGEN, RWE Generation SE, SAP, Schufa, Schwarz Gruppe, STIHL, Thüga, Vector Informatik, WACKER and Wilh. Werhahn KG.