French startup ManoMano, a leading European online Marketplace for DIY, home improvement and gardening products, has announced snapping up €125 million Series E fundraising.
The round was led by Temasek, a global investment company headquartered in Singapore, with participation from General Atlantic, Eurazeo, Piton Capital and Bpifrance (through their Large Venture fund), and Kismet Holdings.
ManoMano, founded in 2013, aims to make your DIY, home improvement and gardening projects easier. Its online marketplace includes the best brands and products at competitive and reasonable prices. In addition, it give you tips and ideas for you to do your work from start to finish.
This new fundraising round increases the total funds raised over the past six years to €310 million. This will allow ManoMano to further deliver on its growth strategy, with the aim of becoming the European market leader in the DIY, home improvement and gardening space. The startup will continue its international expansion, as well as its tradition of customer-centric innovation with services like Mano Fulfilment, its category-specific logistics service, and Manodvisors, its community of experts and enthusiasts that support the company’s customers with their project and purchase decisions.
“We are reimagining the standards of specialised DIY, home improvement and gardening at a European scale. We have to move very fast to beat traditional players and e-commerce giants,” said Philippe de Chanville and Christian Raisson, co-founders of ManoMano. “To allow each of our markets to follow the success of our French business, it is essential that we adapt to each European market, by creating the best local offer in each country, building active communities and developing innovative services,” said the two co-founders.
2019 was another successful year for ManoMano in which the company raised funds, grew well in excess of 50%, and for the first time exceeded €600 million in sales with international markets (namely Spain, Italy, Germany and the UK) already contributing more than a third of sales figures. Growth was further accelerated by the launch of ManoManoPro in March 2019, which already contributes to 10% of sales in France.
This fast-paced growth has enabled the company to create employment opportunities both in France and abroad, with 200 new recruits increasing its diverse and motivated employee base to 420 in 2019. In 2020, the company plans to add another 200 positions across its offices in Barcelona, Spain and Bordeaux, France and further expand its network of Manodvisors.
via https://www.AiUpNow.com/ by contact@bcurdy.com, Khareem Sudlow
