Greetz welcomes €7m

Dutch internet company Greetz, which provides personalized greeting card services, has raised €7m from new investor ePlanet Ventures from the US, and Prime Technology Ventures, a Netherlands-based VC.

The new money will be used to strengthen Greetz’s position in its home market and expand overseas.

Found in 2004, the company now operates, in France, Germany and the United Kingdom.

ePlanet Ventures managing director, Dennis Atkinson, said: “The traditional market for greeting cards is enormous with healthy margins, yet the current ‘printing on demand’ market share is only approximately 1%. The expectations are that this market share will increase to more than 10% by 2012. In our view Greetz has a significant potential, which is why we look forward to be able to contribute to the future growth of this company.”