PhoneAndPhone, a Marne-la-Vallée, France-based Web site specializing in selling mobile phone with or without subscription, closed its €11.3m first round of funding.
Investors in the round include XAnge Private Equity and Innovacom, each of which invested €5m, as well as existing investors, which committed the remainign amount of €1.3m.
The funds will enable the company to consolidate its position in France and expand internationally.
During 2010, PhoneAndPhone plans to open in Spain, Germany and England.
Created in 2005 by Warren Barthes, the company has developed a successful business model based on promotional offers and today employs about fifty people.