{"id":17032,"date":"2026-09-28T10:16:44","date_gmt":"2026-09-28T08:16:44","guid":{"rendered":"https:\/\/www.joffeassocies.com\/convelio-maps-out-a-european-funding-round\/"},"modified":"2026-09-28T10:16:44","modified_gmt":"2026-09-28T08:16:44","slug":"convelio-maps-out-a-european-funding-round","status":"publish","type":"post","link":"https:\/\/www.joffeassocies.com\/en\/convelio-maps-out-a-european-funding-round\/","title":{"rendered":"Convelio maps out a European funding round"},"content":{"rendered":"

CFNEWS article \u2014 by Baptiste Rubat du M\u00e9rac, published on March 7, 2022, at 1:46 p.m.<\/p>\n

 <\/p>\n

The online art logistics service, backed by Global Founders and Acton Capital, adds Swiss-based Forestay Capital, Spanish fund Mundi Ventures, and the EIF to its shareholder base in a \u20ac30 million Series B.<\/p>\n

 <\/p>\n

Convelio continues to rely on European investors. Two years after raising \u20ac9 million from German investors Global Founders Capital (GFC) and Acton Capital, the online art logistics service has raised \u20ac30 million from three non-French European funds.
Forestay Capital, the Swiss fund founded by Ernesto Bertarelli, whose father founded Italian biotech company Serono, which was sold to Merck for \u20ac6.9 billion in 2007, is leading the Series B. It is joined by Spanish VC firm Mundi Ventures and the European Investment Fund (EIF), which is investing through a special-purpose vehicle managed by GFC.
While Mundi Ventures has a strong focus on insurance and is active in France through investments in +Simple, Descartes, DreamQuark, and Unkle, its French-Spanish general partner, Javier Santiso, is very familiar with the art world.
Existing investors GFC and Acton Capital are also participating in the round, while several business angels are exiting through a separate transaction not included in the \u20ac30 million financing.
The two founders, Swiss \u00c9douard Gouin and Cl\u00e9ment Ouizille, had received two offers from US venture capital firms and two from European investors.
The start-up\u2019s precise post-money valuation has not been disclosed, but according to our sources, it exceeds \u20ac150 million. <\/p>\n

 <\/p>\n

Revenue multiplied sixfold in two years<\/strong><\/h4>\n

 <\/p>\n

Over the past two years, Convelio\u2019s monthly revenue, which the company keeps confidential, has increased sixfold, while its workforce has grown from 40 to 200 employees. The freight forwarding company serves 2,700 clients, including 40% art galleries, as well as auction houses such as Christie\u2019s and Sotheby\u2019s and online marketplaces. This latter category has benefited particularly from the e-commerce boom over the past two years, with platforms such as 1stDibs among its customers.
Convelio delivers their customers\u2019 goods to 80 countries.
\u201cThe idea behind this fundraising is to seize the opportunity to continue gaining market share. It gives us the resources to finance our growth for the next two years. If our calculations are correct, we could reach profitability by then,\u201d says \u00c9douard Gouin. <\/p>\n

<\/h4>\n

 <\/p>\n

Strengthening the New York office<\/strong><\/h4>\n

 <\/p>\n

A major effort will be made in the United States, with plans to hire 45 people this year at its New York office, which opened a year and a half ago following an initial expansion into London. The US accounts for 71% of Convelio\u2019s deliveries and 20% of its shipments, and therefore of its revenue.
Another major potential market, Asia will be tackled at a later stage, once the company has decided how to approach it and whether opening an office there is necessary.
The young company remains focused on transporting works of art, antiques, and design pieces. The transportation of high-value industrial goods, which it handles only occasionally, is not yet an active target market.
Its competitive landscape has expanded with the launch of ThePackengers by French logistics company ESI in early 2020, adding to more established players such as US-based Arta, which operates with a marketplace approach, as well as long-standing players with less \u201cdigital\u201d business models, such as Andr\u00e9 Chenue and LP Art. <\/p>\n","protected":false},"excerpt":{"rendered":"

CFNEWS article \u2014 by Baptiste Rubat du M\u00e9rac, published on March 7, 2022, at 1:46 p.m.   The online art logistics service, backed by Global Founders and Acton Capital, adds Swiss-based Forestay Capital, Spanish fund Mundi Ventures, and the EIF to its shareholder base in a \u20ac30 million Series B.   Convelio continues to rely […]<\/p>\n","protected":false},"author":4,"featured_media":5064,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-17032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals-en"],"acf":[],"yoast_head":"\nConvelio maps out a European funding round – Joffe & Associ\u00e9s<\/title>\n<meta name=\"robots\" content=\"index, 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