Barkyn raises €1.7 million seed round through Indico

 In News

Indico Capital Partners, which recently completed the first closing of its early stage venture capital fund, has just announced its fourth investment in the form of a €1,7 million seed round into Barkyn.

Barkyn is a subscription service for pets that covers all their regular needs. Customers get a monthly pack with specialised food and personalised treats, and the service also includes a dedicated remote online veterinary. Barkyn offers a superior experience to that of a classic e-commerce service with more convenience, a better combo price and a highly personalised offer.
Barkyn is operating in Spain, Portugal and Italy and was one of the 8 startups selected by Google for its growth program in Madrid last year. The business grew 300% in 2018 and currently ships more than 40 tons of pet food per month. Founded by seasoned entrepreneurs, the team is led by former Rocket Internet, Farfetch and Prozis managers.
The €1,7 million round, led by Indico and with the participation of All Iron Ventures and business angels Shilling Capital Partners and 7 Graus will enable the company to accelerate new product development and its expansion into further European geographies.
André Jordão, founder and CEO stated: “The pet market is booming worldwide and is now one of the highest growing markets in terms of consumer goods online. People are spending more time and money on pets, which are considered as family members. More than building something innovative in the fragmented pet market, we’re building the future of e-commerce with extreme personalisation and convenience. We’re also excited to have the right investors on board — they have tremendous experience in scaling tech businesses.”
Stephan Morais, Managing General Partner of Indico mentioned that: “We are excited about the incredible execution capacity of the team in a very fast-growing online market. The business model is robust with very healthy margins in a typically low margin business which attests to the excellent background and grit of the entrepreneurs”.