BuyBox, a Toulouse, France-based company that provides social payment solutions to online retailers, has secured 1.7 million euros (roughly $2.3 million) in funding from Iris Capital and Midi Capital.
Iris Capital is the firm that manages the joint Orange/Publicis venture capital fund – they also just led a $13.5 million round for AppGratis.
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Founded in late 2010 and a venture of a group called Oonetic, BuyBox basically allows e-commerce sites to natively collect and organize group payments, e.g. for friends buying someone a birthday gift.
The company’s solution is offered under white label, enabling e-merchants to easily integrate group payment functionality into their existing e-commerce processes.
Coincidentally, there’s another French company in the social group payments space, although Leetchi is decidedly more consumer-oriented, while BuyBox is more of a B2B service provider.
Today, BuyBox’s cloud-based solution is used by customers like Celio, Wonderbox.fr and Micromania, but the company has raised venture capital specifically to explore international commercial opportunities.
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