Muroexe secured EUR 2.7 million

Muroexe, a Madrid, Spain-based company managing a fashion ecommerce operation, secured EUR 2.7 million ($3M) in capital investment.

The funding was provided in part by investors based in Spain including angel investor Andreas Mihalovits, JME Ventures and Gala Capital (EUR 900k) and in part as a result of a crowdfunding campaign via Crowdcube (EUR 1.8M).

The capital will be used to consolidate the company in the Spanish market, where Muroexe plans to continue developing its retail network , and international take-off through its e-commerce , with the United States in the spotlight. In addition, the company will continue to invest in the development of new technologies applied to footwear and will diversify with the launch of accessory and textile lines, one of its biggest bets for 2019.

Muroexe, founded in 2013 by Esme M. Cardenal and Roberto Heredia, operates in more than fifty countries in the world and generates 20% of its sales outside Spain. The company also has four stores in Spain and registered 3 million euros in sales in 2018.