French venture capital firms Iris and Midi Capital have made a €1.7m equity investment in BuyBox, a company that develops solutions that allow e-commerce sites to collect group payments for items such as birthday presents.
The funds will be used to develop the French company’s product portfolio and international commercial deployment, Iris Capital said in a statement released today.
Set up in 2010, BuyBox’s solutions are already used by high-profile customers such as Celio, Wonderbox.fr and Micromania, and are also distributed by partners including Atos Worldline and LaSer, who integrate the company’s offering into their own offers to e-merchants.
“For us, the BuyBox solution is one of the best solutions for social payment,” Midi Capital manager Karim Oumoussa said in the statement. “We believe in the management team and their project and we invest on their side to support their growth.”
The deal follows Iris Capital’s recent investment in AppGratis, a French business that offers undiscovered paid apps for free for 24 hours.
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