Smallable raises €5m from Alven et al.

José Rojo
11 June 2015

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Sigma Gestion and Aurinvest have joined existing backer Alven Capital in a €5m second funding round for French children's products online retailer Smallable.com.

Alven Capital led the round as it contributed roughly half of the €5m being injected into Smallable, with the remaining half equally split between Sigma and Aurinvest.

Although Alven increased the stake it has held since its first investment in Smallable in 2010, the Paris-based VC remains a minority shareholder. In total, the three investing firms secured more than 50% of the shares in the business, according to Alven.

Meanwhile, Smallable founder and CEO Cécile Roederer and managing director Pierre Rochant retained all remaining shares alongside a number of business angels.

The business intends to dedicate the fresh capital to new hires, the development of its brands and international expansion. The company currently expects to boost its revenues from the €12m reported in 2014 to €20m over the course of 2015. It recently recruited former Jumia.com CEO Grégoire de Tilly as its new managing director.

Alven invested via its Alven Capital III fund, a €100m FCPR vehicle that is already closed to investments in new companies but still used for follow-on deals in portfolio companies. The fund is thought to have completed approximately 20 deals into French start-ups.

Previous funding
The current round for Smallable is the second by Alven since December 2010, when it was the sole institutional investor in a €2m first round, according to unquote" data. At the time, the VC stated the funds would be used to bolster the company's workforce and marketing efforts, with expectations for growth both in France and abroad.

Company
Founded in 2008, Smallable.com is an online retailer specialising in fashion and toys for children aged 0-12. Headquartered in Paris, the business employs around 30 people and posted €12m in revenues for 2014, 60% of which are reportedly generated by exports.

People
Associate Nicolas Celier led the deal for Alven Capital, while Aurinvest was represented by managing director Geoffroy Bragadir and Sigma Gestion by investment director Patrick Ndoung. Cécile Roederer is CEO and founder of Smallable.com.