Elaia backs $1.5m series-A for Carnet de Mode

The new funding will be used to launch the online boutique's multi-brand segment, as well as employ additional senior staff and bolster the international expansion of the business.

Elaia sourced the deal on a proprietary basis and believes that Carnet has strong growth potential due to its "high margins" and lack of logistic risks. The GP also views the business as holding a unique position in the market, which has been previously left unaddressed.

Elaia typically invests €1-2.5m in technology-focused companies, particularly the consumer sector within the digital economy of France and Spain. Recent transactions include a €1.3m investment in Adomik alongside Iris Capital and a €1m series-A round for Sensorly.

Previous funding
In July 2012, Carnet received €100,000 in seed funding from a consortium of French angel investors.

Company
Carnet de Mode was founded in 2011, is headquartered in Paris and currently employs five staff. The company offers an online boutique that provides access to "up-and-coming" fashion designers to showcase and sell their clothing and accessories in the site's e-shop.

The site also offers a pre-collection platform that allows consumers to fund a designer's new collection by pre-ordering items, which gives the designer financial support to create the collection and benefits the shopper by granting them a one-off piece of clothing.

The business claims to be the first of its kind in France and has seen a monthly sales increase of 50% since its launch. The site showcases 30 new designers each month and now holds a marketplace of 200 designers, with 6,000 original fashion items.

People
Carnet's founder and CEO is Arbia Smiti. Samantha Jérusalmy is an associate at Elaia and will join Carnet's board.

Advisers
Equity - Jones Day (Legal).
Company - LLBerg (Legal).

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• Topics
• France
• Expansion
• Consumer
• France