The pet care market has been witnessing steady growth in the last few years, if not decade. From foods, treats and supplements, accessories, veterinary and daycare/boarding, or other services, pet owners (and half of the Nuwa Capital team included) are willing to part with an increasing amount of capital for the sake of their pet’s health and wellness.
The global pet care industry was estimated to be at c. $200B in 2020. It is, in fact, larger than the baby care market (c. $70B) and trailing shortly behind the child care industry (c. $270B), with pet owners spending more and at a higher rate on their pets. In MENA, the market remains a bit of a curiosity, with pet ownership seemingly on the rise and a tangible change in perception of what taking care of a pet entails. In the last two years alone, there has been a flurry of new products and services on offer to satisfy every pet’s dietary, accessories, and care needs.
In Episode 14 of our podcast, we speak with Florian Seubert, cofounder and venture partner at Maxburg Capital Partners. Florian started his career at JP Morgan before cofounding Europe’s largest pet supplies e-commerce platform, Zooplus. We dive into what it took to build a successful pet care company at the cusp of the dot-com boom and Zooplus’s subsequent expansion to over 30 European markets.
Our conversation with Florian drew an interesting and unexpected parallel between the European and MENA markets, from digitization (or lack thereof), scaling in fragmented markets, and the potential of industry roll-ups. Florian also shares his insight on the evolution of the tech landscape in Europe, particularly within healthtech and e-pharma, and how Maxburg Capital Partners is laying the foundations for the future of tech on the continent.
Stephanie Nour Prince is Partner at Nuwa Capital where she leads on the fund’s network engagements and operations.
Artwork: Édouard Manet, detail from “The Railway (Gare Saint-Lazare)”, 1873