Social payment technology startup BuyBox raises $2.3 million

Social payment technology startup BuyBox raises $2.3 million

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.

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, and Micromania, but the company has raised venture capital specifically to explore international commercial opportunities.

More coverage of the news (in French) can be found over on LesEchos and ITespresso.

Image credit: Thinkstock

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