XAnge et al. inject €6.75m into PrestaShop

XAnge led the round, while Serena Capital had already invested €3m in the business in September 2011. Business angels have also backed the company in the past.

All three GPs were attracted by the growth prospects of the e-commerce sector and PrestaShop's results in particular: the company is believed to have seen its turnover double over the past two years and to be enjoying a 30% market share of the e-commerce software market in France.

PrestaShop will use the fresh funding to further develop internationally via new marketing efforts and the creation of a network of country managers dispatched to several key locations. The business will also look to hire new technical staff in both France and the US.

Company
Established in 2007, PrestaShop has developed a freemium open-source software allowing e-commerce players to create and manage their online storefront. The company works with more than 165,000 retailers across 163 countries.

Headquartered in Paris, PrestaShop also has a subsidiary in the US and employs around 80 staff.

People
Inès Sen led the deal for XAnge. Seventure was represented by Jonathan Cohen-Sabban and Thibault Canton. Marc Fournier and Jean-Baptiste Dumont worked on the deal for Serena Capital.

Advisers
Equity – Gide, Olivier Edwards, Emilie Leygonie (Legal); Grant Thornton, Nathalie Margraitte, Emmanuelle Muller-Schrapp (Financial due diligence).
Company – Alpha Capital Partners, Marc Oiknine (Corporate finance); Pinot de Villechenon, Morgan Hunault-Berret, Alice Laroque, Alexander Kotopoulis (Legal).
Management – SB Avocats, Sacha Benichou (Legal).

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• Topics
• France
• Expansion
• Technology
• France
• XAnge Private Equity
• Seventure (SPEF)
• Serena Capital