Monday, November 18, 2013

Farman raises €400k in a first seed round from Digital Investments

Digital Investments SCA SICAR, a Luxembourg-based VC investment fund who advisor is dPixel, a venture capital advisor and management consulting firm specialized in the digital seed and early stage space founded by Gianluca Dettori and Franco Gonella,  invested €400,000 by subscribed a capital increase in Farman a Milan and Trani-based (italian) e-commerce startup specialized in the Health & Beauty sector: a transaction that will allow the company to go on with its growth plans since the receives funds will be used to best implement the company business plan with the target to become a reference player in the Health & Beauty space by reinforcing the management team with the entry of Loris Lanzellotti, Investment Manager at dPixel.


Massimiliano Masi, CEO and co-founder of Farman, says that "the entry of Digital Investments witnesses that road taken is the right one, but mostly offers us significant growth prospects for the years to come. We have several initiatives underway and the support of this new investor will enable us to pursue our objectives by increasing investment in technology, communications and logistics." After a strong growth in 2012 ( +112 % increase in turnover with a customer base of about 8,000 clients) 2013 has already confirmed the positive trend of the company. "We believe - continues Lanzellotti - that online sales in the Health & Beauty is segment with a high growth potential."

Launched in 2010 by an intuition of Paolo and Francesco Manno, and led by pharmacists and e-commerce experts, the company operates an online store (www.farman.it) offering products for healthcare, baby care, food, beauty and sport products, which allowed the company to register a steady growth since its birth: despite the recession period for the traditional economy, the crisis has had no major impact on the e-commerce sector, which in 2012, reached € 21.1 billion in total revenue with a value in the Health and well-being segment of €63 million. And the growth prospects are equal to 5 times the current volume over the next five years for e-commerce as a whole (according to a recent Eurisko research which was commissioned by Google).

Farman counts also on the long-term strategy which foresees international development across key European markets and the integration of physical and virtual networks through Farman Points, Farman corners inside physical stores where customers can pick up their products with significant savings on shipping costs. 


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