Beauty products and vegan – yes that goes together. At least in concept. The sustainable beauty startup Gitti wants to prove the feasibility. Already in 2018 Jennifer Baum-Minkus from Berlin founded Gitti, since April 2019 she is successfully on the net with her own online shop. With B-to-v Partners, another venture capital investor has now been acquired. This article is based on the unique List of the 200 most important venture capital investors in Germany.
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Sustainability also for beauty products – Gitti makes it possible!
Vegan nail polish instead of nail beauty with “chemical mace” – that is the unconventional idea of Gitti. An idea which is well received! After the start of the online shop, 300,000 Euros turnover was achieved within a few days. During the Corona-Lockdown the shop virtually exploded. Jennifer Baum-Minkus even introduced Gitti recently in the TV show “Höhle der Löwen” (Lion’s Den) and received a financing commitment of 350,000 Euros. However, the deal did not materialize after the show.
No problem for the founder, as she has now found another solution for the capital requirements. The venture capital investor B-to-v Partners from St. Gallen is involved in Gitti together with the early-stage investor Grazia Equity. Grazia Equity had already entered Gitti in March of this year with several business angels. With the additional capital injection by B-to-v Partners and Grazia Equity, more than three million euros are now available for further growth and expansion of the business model. Vegan beauty does not have to be limited to nail polish.
B-to-v Partners is a venture capital company that manages institutional funds, partner funds and direct investments of private investors. The assets under management amount to approximately EUR 420 million. In addition to its headquarters in St. Gallen, it has offices in Berlin, Munich and Luxembourg. B-to-v Partners is involved in early-stage financing and venture capital investments in the range of EUR 300,000 to EUR 10 million. The Gitti investment also fits in with this.
Picture source: Unsplash
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