Neo Investment Partners leads Scarosso's series-B

The fresh capital will be used to expand the business internationally and to open further retail stores in major German cities. It will also be used to finance the growth of the core online business.

Neo became involved in Scarosso through the management team; the small- to mid-cap private equity fund is focused on branded consumer goods and luxury products.

DN invested via its third European venture and growth capital fund, GVC III, which closed above its target on €144m at the start of September. The GP was introduced to Scarosso through its Berlin network.

Previous funding
DN previously led the footwear company's series-A round in May 2013 together with IBB-Beteiligungsgesellschaft. Since its investment, the number of employees has doubled and monthly revenues of €100,000 have increased more than five-fold.

The capital was used to expand the company's online retail concept to six bricks-and-mortar stores in cities including Berlin, Hamburg, Munich and Vienna.
Berlin Ventures provided seed funding in May 2012 alongside two business angels, according to unquote" data.

Company
Founded in 2011, Scarosso is an Italian fashion label with headquarters in Berlin. It currently designs shoes and accessories from its manufacturing facilities in Montegranaro, Italy. The brand also allows customers to customise shoes via its online platform Scarosso Studio.

It currently has 61 employees and six physical stores, enabling customers to try out the brand. Scarosso opened its first shop in Hamburg in late 2012.

People
Tom Bradley is a partner at DN and is a Scarosso board member. Sara Ferrero worked on the deal for Neo and took a seat on the Scarosso board. Former Gucci CEO Robert Polet is an adviser to the management team and the board.

Advisers
Management – Torch Partners (Corporate finance).
Equity – Lambsdorff, Pablo Rüdiger (Legal).

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• Topics
• Expansion
• DACH
• Consumer
• Germany
• DN Capital