The contemporary footwear brand Muroexe has successfully raised one million euros in its second investment round, bringing in new strategic partners and consolidating its financial structure. Among the new shareholders is part of the management team from the investment group Gala Capital, as well as the prominent German business angel Andreas Mihalovits, known for his extensive activity in Spanish startups and over forty international investments.
Additionally, the company has opened an additional window of €200,000 to allow customers and small investors to participate in the capital through an equity crowdfunding campaign available until June 16. This initiative aims to foster closer dialogue between consumers and the brand, as well as to encourage direct public involvement in the company’s development.
The operation has also seen participation from previous partners, such as JME Venture Capital, which had already invested in the first funding round in 2017, alongside the continued involvement of the majority of the founding shareholders, who maintain a significant position in the company, according to Esmeralda Martín, co-founder of Muroexe.
Expansion and Diversification Plans
With the new resources, Muroexe intends to accelerate its growth on several fronts. In Spain, the company will expand its physical presence by opening up to five new stores in strategic locations, adding to the current four stores located in Madrid, Bilbao, Logroño, and Pamplona.
Internationally, the brand will strengthen its presence in the European markets where it already operates and give a decisive push to its entry into the United States, where it has recently established a subsidiary in New York and signed an agreement with a logistics operator to facilitate expansion.
Moreover, the company is driving a transformation of its product line, aiming to broaden its catalog with more models and enhance diversification to evolve into a lifestyle brand.
For 2019, Muroexe remains committed to its goal of growing by 50% and reaching revenues close to five million euros. Currently, 65% of its sales come from the online channel, while around 20% corresponds to its presence in the multi-brand channel, with products available in about 190 points of sale worldwide.
