Iris and BPI France invest €10m in Mister-Auto

Iris provided €6m to the round, with BPI France footing the balance via its direct co-investment fund, FCID 2. The €180m vehicle was launched in 2010.

The capital will be used to grow the company further into Europe by entering new markets. Mister-Auto also plans on using the funding to improve its offering as an online store, by diversifying its payment methods and delivery options.

The company's growth strategy is focused on the do-it-yourself trend, which it claims is becoming more popular as customers look to spend less.

Previous funding
The company's founder, Rémi Saby, is a shareholder of Mister-Auto alongside previous backer CM-CIC Capital Privé. In November 2010, CM-CIC Capital Privé injected €6m into Mister-Auto.

Company
Mister-Auto was founded in 2007 and is headquartered in Genas, with 14 additional offices across Europe, including those in Amsterdam, Vienna, Madrid, London, Helsinki and Athens. The company's services are available in 22 European countries.

The company sells car parts and accessories, claiming to offer 300,000 products from more than 100 brands, including Bosch, Delphi, Contitech and Castrol.

Mister-Auto employs 90 staff and is expecting revenues of €100m for 2013.

People
Rémi Saby is the president and founder of Mister-Auto. Curt Gunsenheimer is a partner at Iris, while Francis Estellat is an investment director at BPI France.

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• Topics
• France
• Expansion
• Consumer
• France
• Iris Capital (Part’Com)