A Dublin-based start-up called Artfetch.com, which is led by a mother and daughter team, has been sold to London-based online marketplace Rise Art for an undisclosed sum.
Artfetch, a curated e-commerce platform for global contemporary art from contemporary artists, was founded by contemporary art collector and former IMMA board member Patricia Tsouros and her daughter Katie, a contemporary art curator who previously owned the KT Contemporary Art Gallery in Dublin.
‘I believe we’re at a pivotal time for this industry and can look forward to significant growth in the coming months and years’
– KATIE TSOUROS, ARTFETCH
Rise Art is an online marketplace for contemporary art handpicked by experts. It offers a unique try-before-you-by art rental service, and is aiming to change the way consumers find and own original artwork.
Katie Tsouros will be joining the management team of Rise Art, CEO Scott Philips revealed.
“Over the past three years, Katie has built up an impressive roster of artists and a passionate community of collectors. Artfetch has always been a wonderful destination to discover great original artwork from up-and-coming talent,” he said.
The art of the deal
The art rental offering from Rise Art lets anyone live with art in their home or office before they buy, while earning credits towards purchases in the process, and is a large part of Rise Art’s corporate and consumer growth strategies.
Rise Art has more than 5,000 artists on its platform, working with around 500 selected sellers as chosen by their in-house curators and board of art-world insiders, with multiple artists reaching sales in excess of £50,000 on the site.
Artfetch recently featured on our list of 26 outstanding start-ups that smash the “boys club” stereotype.
The acquisition of Artfetch, which has its primary markets in the UK and Ireland, Europe, North America, Asia and Australia, will accelerate Rise Art’s growth and artist development.
As part of the acquisition, Artfetch CEO Katie Tsouros will join the Rise Art team as a core member to lead content and branding.
“Joining a larger company within an extensive market gives us the opportunity to really further the Artfetch goal of making art-buying easy and accessible, and we are very happy to become part of a business that is aligned to our vision and shares our mission to get the world buying great art,” said Tsouros.
“I am also thrilled to be working as part of a brilliant, smart team with endless energy for what they do, and to develop a fundamental part of the business within its marketing structure. I look forward to the Artfetch artists and collectors joining me on this journey as online art-buying becomes better and better. I believe we’re at a pivotal time for this industry and can look forward to significant growth in the coming months and years.”
Art gallery image via Shutterstock