BMH and ISB invest in Störtebekker Shaving Accessories
Wiesbaden / Obertshausen — Beteiligungs-Managementgesellschaft Hessen mbH (“BMH”), the medium-sized investment and venture capital company of the State of Hesse, is investing in Störtebekker Shaving Accessories GmbH (SSA). The young e‑commerce start-up revives traditional shaving and beard care with qualitative zero-waste products and generates a “barbershop feeling” for their customers at home. In addition to BMH as lead investor, Investitions- und Strukturbank Rheinland-Pfalz (ISB) through its subsidiary Venture-Capital Rhein-Neckar (VC RN) and a co-investor participated in the financing round in the upper six-figure range.
SSA was founded by Martin Picard in 2017 as an Amazon store with the aim of assisting customers as a barber in their own home. 2020 followed the online store, through which the high-quality shaving and beard care products, such as razors, shaving brushes and knives are additionally distributed. The range is complemented by the complete range of accessories: soaps, beard balm, shaving oil, combs and brushes thus complete the personal shaving experience. In addition to a video tutorial about beard care, the company will add more accessories for men to its product range in the near future.
“The Störtebekker brand is intended to stand for masculinity, freedom and relaxation among our customers and to transform shaving from an “annoying evil” into a positive ritual,” describes Martin Picard (photo), founder and CEO of SSA, his vision of the home barbershop, adding, “In contrast to the widely used system razors, we rely on products that are also used in professional barbershops. Our plastic-free products feature optimal shaving results with less skin irritation.”
The new financial resources in the upper six-figure range are to be used predominantly for the expansion of sales activities to further sales platforms, the retail trade and barbershops.
“Despite bootstrapping, SSA has already shown an impressive sales and earnings development in the first years due to the great personal commitment of Martin Picard. We are pleased to be able to support the company in its further business development and in the expansion of a strong brand,” says the responsible investment manager Dirk Pieper of BM H Beteiligungs-Managementgesellschaft Hessen mbH, which manages the Hessen Kapital III (EFRE) GmbH fund, among others.
“We are very pleased to be able to accompany this promising company on its growth path together with our colleagues from Hesse,” said Mike Walber, Head of Venture Capital at ISB.
BMH Beteiligungs-Managementgesellschaft Hessen mbH, based in Wiesbaden, was founded in 2001 and is a wholly owned subsidiary of Landesbank Hessen-Thüringen Girozentrale (Helaba). Through Wirtschafts- und Infrastrukturbank Hessen (WIBank), BMH is actively involved in the economic development activities of the State of Hesse. As a medium-sized investment and venture capital company, BMH bundles public investment interests and financing instruments for early-stage, growth and medium-sized companies in Hesse. BMH currently manages seven investment funds with a total invested investment volume of around 125 million euros. Since its foundation, BMH has invested in a total of more than 500 companies. The main areas of investment include the software & IT, life sciences, mechanical and plant engineering, industrial goods, professional services and e‑commerce sectors. More information about BMH and its funds: www.bmh-hessen.de
About the ISB
Investitions- und Strukturbank Rheinland-Pfalz (ISB) is the development institution of the state of Rhineland-Palatinate with headquarters in Mainz and is responsible for economic and housing development. As part of the financing of start-ups and young companies, the venture capital division of the development bank currently invests in the development and market launch of innovative products, a process or services via ten investment funds and also supports the companies in an advisory capacity.
About the VC RN
VC RN is an investment company founded by the savings banks and cooperative banks from the Rhine-Neckar region and the ISB, which invests in innovative and high-growth companies from the Rhine-Neckar region. The fund is managed by the ISB’s Venture Capital, Equity Investments division.