Irish start-up Artfetch has been acquired by UK company Rise Art for an undisclosed sum.
Artfetch is a curated ecommerce platform for emerging artists. It promotes and sells the work of more than 70 international artists, taking a commission on all sales made through the website.
The Irish business was founded in 2012 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.
Rise Art offers a unique try-before-you-buy art rental service, and says it is changing the way consumers find and own original artwork from professional artists.
The art-rental offering from Rise Art lets anyone live with art in their home or office before they buy, while earning credits towards purchase in the process.
The acquisition of Artfetch, with its primary markets in Ireland, Britain, Europe, North America, Asia and Australia, will accelerate Rise Art’s growth and artist development.
As part of the acquisition Artfetch chief executive Katie Tsouros will join the Rise Art team as brand marketing manager to lead content and branding.
Pivotal time
“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 . . . I believe we’re at a pivotal time for this industry, and can look forward to significant growth in the coming months and years,” Ms Tsouros said.
"Artfetch has always been a wonderful destination to discover great original artwork from up and coming talent," said Rise Art chief executive Scott Phillips.
