We have led a round of more than €800,000 in PoolComet. We have invested through Bewater II FCRE and Bewater PoolComet FCRE, together with other investors.
PoolComet is currently an e-commerce platform for pool and spa products. It sells more than 5,000 SKUs, which will shortly increase to more than 15,000. The company has achieved strong commercial success, multiplying its sales by 13 over the last two years.
We believe this represents a good opportunity.
PoolComet operates in a large market—pool and spa products—which in Europe amounts to $7.5 billion and is expected to grow at 8% annually in the coming years. The market is fragmented in Europe, with no clear online leader, especially when product distribution includes installation or warranties.
The company’s founder, Salvador Mauri, has deep knowledge of the sector. He served for more than 15 years as Managing Director for Spain of one of the world’s leading companies in the sector.
Today, the company enjoys a competitive advantage: the depth of its online product offering.
The valuation is reasonable.
The company is capital-efficient, having reached its current position with a total investment of €0.5 million.
It has an ambitious plan for growth across continental Europe.
The founder of the company is Salvador Mauri, who holds a degree in Business Administration from Universidad Complutense, an MBA from Instituto de Empresa, and a PDG from IESE. Salvador spent 15 years as Managing Director for Spain of one of the largest and most successful companies in the sector worldwide, listed in the United States and the global leader in specialized distribution of pool, spa, irrigation, and fluid-handling products for professionals, specialist retailers, and installers.
We are especially grateful that he allows us to accompany him on this journey.
In Salvador’s words: “The entry of Bewater Funds into PoolComet’s shareholder base strengthens the project and enables us to take on new challenges, both commercial and technological. In addition, their prior experience in other e-commerce businesses and digital projects will help us accelerate PoolComet’s roadmap, which is focused on growth and an exceptional user experience.”
By Ramón Blanco
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