In February 2005, 3i led the €7million venture funding for Babelstore, which owns PriceMinister.com, a leading French online "e-tailer" with 2.5 million members.
The PriceMinister website, launched in 2001, now processes more than 10,000 sales per day from the 10 million items for sale. This has made it one of the top five "e-tailers" in France.
3i first met the management team in late 2002, and developed a strong relationship. When Babelstore sought additional capital in 2004 to expand internationally, this relationship and 3i's international network made 3i a natural choice.
3i is supporting the expansion of Babelstore's operations in France, Italy and Spain as well as the development of new online product categories (including cars).
3i has introduced a non-executive director with significant sector experience and is currently assisting the company in recruiting a chief financial officer.
