Convelio, a Paris, France-based tech-led fine art shipping company, raised $35m in Series B funding.
The round was led by new investors Forestay, and Mundi Ventures, with participation from the European Investment Fund and existing investors Acton Capital and Global Founders Capital.
The company intends to use the funds to further develop its logistics technology, customer service offering and sustainability strategy. Responding to increasing customer demand, Convelio will further expand headcount worldwide, with particular focus on the US – the startup’s largest market – where in 2022 the team will more than double from 30 to 70.
Co-founded by Edouard Gouin and Clément Ouizille in 2017, Convelio leverages proprietary optimized pricing technology to enable auction houses, galleries and private art collectors all over the world to access an instant quoting tool for competitively priced logistics services. The online quoting system provides quotes within seconds, using proprietary algorithmic technology that assesses multiple data points instantaneously across the entire logistics chain. As soon as a customer places an order, Convelio takes care of everything, from shipping to insurance, customs and real-time tracking.
During 2021, the company was responsible for 14,000 shipments with a cumulative value of $265 million between over 80 countries worldwide. Its customer base include global arts market giants such as Christie’s, Sotheby’s and Phillips.
Convelio has 200 employees in Paris, New York and London.
FinSMEs
07/03/2022