TIME backs Brille24 with €7m

The GP committed the capital through an investment in holding company Tejado GmbH. It has agreed to commit up to €12m to the company in follow-on rounds to support its international expansion.

The firm's founder remains the main shareholder in the company.

Company
Established in 2007, Brille24 retails frames and corrective lenses through its online platforms at less than a quarter of the average price in traditional opticians. The firm sold more than 220,000 pairs of prescription glasses across Germany, Belgium, Spain and the Netherlands in 2011.

The company's revenues have more than doubled in the last two years.

People
Jean-Luc Cyrot is a partner at TIME Equity Partners.

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• Topics
• DACH
• Consumer
• Expansion
• Germany