InstantLuxe gets €2m from Iris Capital and Isai


watch retire goldVenture capital firm Iris Capital and internet entrepreneur fund Isai have provided €2m to second hand luxury products reseller to develop a mobile application for the website.

InstantLuxe, which currently has 500,000 members, also plans to increase its presence in France and elsewhere in Europe.

Sophie Dingreville, Iris Capital partner, said, “By providing consumers with a premium platform dedicated to pre-owned luxury goods, InstantLuxe contributes in bringing value to the high-end European online commerce, which is in full expansion.

Since its launch in 1986 Iris, which targets European service technology companies, has invested more than €900m in 200 businesses.

Last month the venture capital firm partnered Cologne-headquartered peer Capnamic Ventures to seek early stage investment opportunities in Germany.

It also led an expansion round for German e-commerce company reBuy reCommerce.

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