Lico successfully completes its first financing round. Bewater Funds, an investment fund, has acquired 15% of the shares of Lico, an Andalusian cosmetics company. In this first round, Lico has managed to raise one million euros, with the aim of doubling its turnover by the end of 2023. In the previous year, the company achieved a turnover of two million euros, as reported by Europapress.
The company's strategy focuses on expanding into foreign markets and increasing its efforts in research and development to launch new cosmetic products throughout the year. Until now, Lico has been distributing its products exclusively through its own e-commerce platform, with no external financing.
Lico started operations in Seville in 2020 under the direction of Estefanía Ferrer, its founder. The company is dedicated to the production and distribution of facial care products. Estefanía, an engineering graduate from the University of Seville, decided to leave her career as an engineer after seven years working at Airbus, an aviation manufacturer. In just three years since its foundation, Lico has experienced considerable growth in profits and has increased its turnover fivefold compared to its first year of activity, although the exact figure has not been specified.