French web business raises €4m

French VC firm Iris Capital and Franco-Sino investment house Cathay Capital have invested €4m into French web company Dotsoft in a deal which will see the company founder and former chairman Christophe Monnin sell his 64% stake and leave the business.

Dotsoft, which has also raised €1m in debt from Société Générale and LCL, is a Software as a Service (SaaS) specialist, providing software solutions for retailers, enabling them to manage sales, e-commerce sites and customer services.

Iris and Cathay are now the majority stakeholders in the company, which was founded in Lyon in 2003 and now counts Feu Vert and Expert Connexion among its customers.