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Sunday, May 19, 2024

900.care raises 21 million euros to speed up its progress in Europe

The French start-up has simply accomplished a fundraising of 21 million euros. The brand new funding spherical is led by Lombard Odier Funding Managers alongside 900.care historic traders White Star Capital, Swen Blue Ocean and Founders Future. It follows a primary fundraising of 10 million euros in June 2021. That seed spherical was backed by White Star Capital, Founders Future, 360 Capital and enterprise angels.

Profitability in sight

Launched in 2021 by Aymeric Grange and Thomas Arnaudo, 900.care is a refillable, by-subscription, hygiene and private care model which has the ambition to assist scale back plastic consumption and the environmental affect of hygiene and wonder merchandise.

The model intends to make use of the funds to strengthen its place in France and speed up its footprint in a number of neighbouring nations.

In 2023, 900.care has virtually tripled its turnover, exceeding 10 million euros on the finish of the yr. The corporate is now focusing on profitability in France from 2024 and a turnover of 100 million euros inside three years.

235,000 lively subscriptions

900.care presently claims 235,000 lively subscriptions throughout France, and the model employs 25 individuals.

900.care represents exactly the kind of mannequin that appears promising for the longer term, because the model provides a virtuous mannequin, minimizing plastic manufacturing. This straightforward and simple to make use of answer, supported by an progressive industrial course of, is reasonably priced to many individuals, serving to customers in adopting new habits each day,” stated Victoire Carous, co-manager of plastic circularity technique at Lombard Odier Funding Managers, in an announcement.

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