Valencia, a Spain-based e-commerce site enabling its users to purchase custom-made jewellery, Singularu raised EUR 1.3 million in funding. The round took place on September 22, 2023. Spanish leading Venture Capital firm Faraday Ventures led the financing for the firm.
Purpose of financing for Singularu
Faraday Ventures invested in Singularu as a part of its secondary equity deal. The deal enables investors who backed the company in its early stages to liquidate their exit by multiplying their returns. Singularu seeks to make a qualitative and quantitative leap. It also has plans to expand beyond the national border. Meanwhile, the company further intends to explore new international markets.
With the latest proceeds, Singularu seeks to fund its expansion. In addition, the investment reflects a vote of confidence in its vision and growth potential. The strategic partnership is expected to bring exciting developments for both companies in the future. It also reaffirms the commitment of both parties. The confidence of Faraday in Singularu for its new secondary capital operation marks the belief in the Valencian brand’s ability to deliver solid results.
What the company’s official has to add
Cristina Aristoy, CEO of Singularu and co-founder, said, “We are very happy and grateful for the trust Faraday has placed in us. Seeing how we have been able to generate value for the investors who have been with us since our inception is an achievement that encourages us to continue on this path. The journey we have made together with them has been long and challenging, and the fact that they continue to trust in the value we bring as a company fills us with the motivation to keep moving forward in this way.”
What the investors have to add
Jaime Biel, Partner at Faraday, further added, “Singularu has shown that it understands its customers and what they want, as is reflected in its solid growth over the last few years. On behalf of Faraday, we continue to strongly support Singularu’s business, and we are betting on the excellent evolution of its geographic expansion and reception of its new products.”
About the company
In 2014, German Figna García, Paco Tormo and Cristina Aristoy launched the company. Singularu is a popular jewellery brand that succeeds among millennials and Generation Z. It experienced steady growth in recent years, successfully consolidating its position in the national market with 51 points of sale.
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