Irish start-up Artfetch has been acquired by British firm Rise Art for an undisclosed sum.
The company, which describes itself as a curated ecommerce platform for emerging artists, was set up in 2012 by Patricia and Katie Tsouros.
Patricia is a contemporary art collector and former IMMA board member, while her daughter Katie is a contemporary art curator who previously owned the KTcontemporary art gallery in Dublin.
They will both move to Rise Art following the acquisition.
It represents more than 70 international artists, promoting and selling their work online, taking a commission on all sales made through the website.
Artfetch will bring its global client base, portfolio of artists, and content to Rise Art as part of the deal.
Part of Rise Art’s unique offering is a try-before-you-by art rental service, which allows anyone to live with art in their home or office before they buy.
Rise Art has over 5,000 artists on its platform, working with around 500 selected sellers, with multiple artists reaching sales in excess of £50,000 (€62,900) on its website.
Commenting on the sale Katie Tsouros said: “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.”
Rise Art CEO Scott Phillips said: “Artfetch has always been a wonderful destination to discover great original artwork from up and coming talent.
“Katie will be joining the Rise Art management team as our brand marketing manager, responsible for sharing the stories of our artists as we expand the company beyond the UK. We’re thrilled to welcome Artfetch to Rise Art.”