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November 07, 2007
Capital Trickles to France's eCommerce Innovators
Ever since Vente Privée, which sells home-shopping channel-like products on the web, raised capital from Summit Partners at a stellar valuation, we've been keeping an eye on French eCommerce innovators. A couple of deals this week to report along those lines.
Neteven
Six months after it raised a €1M early stage round, Neteven, received €650K from France's economic development organization OSEO to be use for R&D. [source Neteco]
The startup has developed a platform for merchants that enables them to list and sell their products on major ecommerce sites like Amazon, Abebooks, and eBay, along with leading homegrown sites like PriceMinister and Alapage.
It has some nice pixel art on its website and an animated transaction flow diagram to describe its platform. Looks like eBoy work?
MAISMOINSCHER.COM...
After struggling to raise capital for several months to improve its service by delivering purchases to customers faster and with more precision timewise than the competition, maismoincher.com raised €300K from a regional private equity fund.
The Toulouse-based company sells white goods, appliances, and more recently furniture over its website, and has been in business since 1999. (source Neteco)
It's hard to believe that a family-owned company that employs 40 and has grown turnover from zero to €26M without outside financing, in a very difficult segment of the eCommerce market, had a hard time convincing the French venture community to finance such an investment.
But there you go. It had actually been targetting €1M. We snagged that background info from this Decideurs.tv interview on vpod.tv, with additional input from midenews.
Maybe the Hébrards should have taken this unit, which sells at just €82, with them when making the rounds of Paris VCs.
Posted on November 7, 2007 05:15 AM | Posted to Being European | News And Updates | Permalink
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