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Colvin raises €45 million

Online flower retailer Colvin has raised €45 million in a Series C round as it looks to scale its business in Europe. The operation was led… View Article

GENERAL MERCHANDISE

Colvin raises €45 million

Online flower retailer Colvin has raised €45 million in a Series C round as it looks to scale its business in Europe.

The operation was led by Eurazeo, but French AgTech fund Capagro also participated.

Founded in 2017 by Andrés Cester and Sergi Bastardas (pictured), the Barcelona based business will use the funds to invest in technology and systems. It will also be expanding into new markets and adding over 100 people to its team in the technology, marketing and operations departments.

Colvin was created as a direct to consumer brand, although it is also working to develop a successful B2B market offering,

Bastardas  said: “2020 has been a year of acceleration for Colvin, a turning point that will set the pace for our growth over the coming years. This new funding round will enable us to accelerate the development of technology and logistics-related projects which are currently under progress for the B2B category, in addition to consolidating the company’s growth in the flower and plant online retail sector. Our goal at Colvin is to lead the transformation of the industry at a global level.”

Having shipped over 10 million flowers in 2020, Colvin ended the year with 200% growth and expects to double its turnover by the end of 2021.

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