Growth Capital supported Frankly Bubble Tea & Coffee, Italy’s leading bubble tea chain, in a €2.5 million Series A round.
The round was led by Azimut Libera Impresa, with CDP Venture Capital SGR as a co-investor. Frankly also decided to open up its capital to the community via the Mamacrowd platform.
The funds raised will be used to:
– Strengthen the national expansion plan, with 20 new stores planned over the next two years
– Expand into the European market with the goal of becoming a key player in Europe by 2025
– Grow the team
– Develop the digitalization of the business
“The bubble tea market is a high-potential sector with interesting opportunities, both in Italy and across Europe. In a still fragmented landscape, Frankly has managed to position itself as a reference point in Italy with a strong brand identity, and now aims to establish itself as a leader in Europe, anticipating the arrival of large Asian franchise chains in the market,” commented Andrea Casati, Vice President, Growth Capital.
