Amsterdam-based Parfumado Group, an online platform that deals with perfume subscription services, announced on Wednesday that it has secured €3.2M in a pre-Series A round of funding.
The round was co-led by Borski Fund and Rabobank. Existing investors, including Dragons’ Den investor Michel Perridon and angel investor Wulf van Alkemade (citizenM Hotels), also participated.
The Dutch company says it will use the funds to accelerate its international expansion, product development, and further strategic collaborations.
“The transition from offline to online in the perfume category is moving fast: this speed means consumers are more comfortable discovering and buying products without being able to smell or try them in a shop first. For brands and retailers, this means they need a strong digital strategy to offer a rich experience to customers online as well. As a result, we see budgets at beauty corporates shifting online, and we understand why – the future of perfume and beauty is online,” says Floor van Rooy, founder of Parfumado.
“This investment shows the potential of online sampling, and we look forward to working with our investors, who, in addition to capital, also contribute their international network and expertise, to change the way we discover perfume and beauty,” Floor van Rooy adds.
Parfumado Group: What you need to know
Parfumado was founded by brother-sister duo Martijn and Floor van Rooy in 2017. The Dutch company is responding to the (once physical) beauty market shift to online.
Predictions indicate that by 2026, 50 per cent of perfume purchases will be online, whereas, before COVID, this was only 15 per cent, says the company in a press release.
Parfumado Group acts as a matchmaker between the brand and the consumer. The scale-up features two business models:
- a B2C subscription model for perfume (Parfumado)
- a B2B targeted sampling platform for beauty (Rocket Campaigns)
Parfumado counts companies like L’Oréal, Rituals, LVMH, and COTY among its partners. The majority of its users are from the Netherlands and Belgium, claims the company.
The scale-up currently serves three markets – the Netherlands, Belgium, and the UK. The company is planning to add two more markets – Germany and Denmark – in the near future. The company has also set its eyes on Sweden, Switzerland, and Austria.
The Amsterdam-based company has an international team of around 40 employees and is looking to strengthen its team with ten vacancies, including programmers and marketers.
Simone Brummelhuis, Partner at Borski Fund, says, “We are delighted to invest in Parfumado and its exceptional team led by Floor and Martijn. In a short period, Parfumado has grown into an innovative business in the beauty tech sector. Its online customised products help reduce waste, which meets greater customer demand for impact-conscious businesses. As a data-driven business, the company can disrupt the industry and attract a diverse set of talent. We are enthusiastic about Parfumado’s proven ability to address multiple market trends and are dedicated to supporting Floor and Martijn as they continue to grow the company.”
