Iris and Isai inject €2m into InstantLuxe

Iris led the investment, which will notably be used to develop a mobile application for InstantLuxe's marketplace.

Isai had already provided InstantLuxe with €650,000 of funding in 2010. The VC invested through its first fund Isai Developpement, a €24m internet-focused vehicle closed in April 2010.

Company
Founded in 2009, InstantLuxe.com is an online marketplace dedicated to second-hand luxury items. While sellers can advertise their products for free, the company generates revenue by charging a commission to the buyer.

In a bid to address forgery issues, all the products sold through the website are inspected by independent experts before they are delivered to the buyer. InstantLuxe.com is headquartered in Paris.

People
Sophie Dingreville worked on the deal for Iris. Isai was represented by Jean-David Chamboredon.

 

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