Banco Sabadell and Dozen invest 400,000 euros in Saigu Cosmetics
Banco Sabadell's BStartup and the Dozen investment platform have invested 400,000 euros in a financing round for the natural cosmetics company Saigu Cosmetics. The company plans to use the capital to internationalize in 2022 and make the leap to France, Italy and Germany, as reported today by the bank in a statement.
Founded in Barcelona, Saigu Cosmetics uses local and sustainable ingredients to create its products. The firm, which participated in the Lanzadera acceleration program, currently has 11 products for sale and 99% of its ingredients are natural and about 35% are organic.
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Commitment to sustainability
This investment "reinforces Banco Sabadell's commitment to companies that promote sustainability" from technology or digitization, according to the financial institution. The company's founders are Gerard Prats, a cosmetic chemist, and David Hart, an entrepreneur specializing in online marketing.
The startup was created in Barcelona in 2019 as a native digital brand inspired by the proximity and simplicity of the island of Menorca, where its founders originate.
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