Regulated like music paper. Almost every year since its creation in 2013, the European leader in online DIY, home and garden, ManoMano, has raised ever-increasing funds to support its crazy growth and become a European e-commerce giant.
After in particular 13 million euros in 2016, 60 million in 2017, 110 million in 2019 and 125 million in 2020, the Parisian startup is moving up a gear in 2021 with a new mega-fundraising of a whole new magnitude: 355 million of dollars (approximately 299 million euros).
This time, the round table is led by the American investor Dragoneer Investment Group. The historic investors Temasek, General Atlantic, Eurazeo, Bpifrance (via its Large Venture fund), Aglaé Ventures, Kismet Holdings and Armat Group, complete this series F fundraising. In eight years, the nugget founded by Christian Raisson and Philippe de Chanville has raised $ 725 million. Unicorn since January 2020, she is now valued at 2.6 billion dollars (2.2 billion euros).
DIY specialist ManoMano raises another 125 million euros to conquer Europe
Germany and the UK in the crosshairs
This financing will enable ManoMano, already present in six countries in Europe – France, Belgium, Spain, Italy, Germany and the United Kingdom – to consolidate its positions on the Old Continent. And particularly in Germany and the United Kingdom, strategic markets to truly become the “European Amazon for DIY / gardening”. Today, 60% of the company’s activity is carried out in France, hence the importance of accelerating in other European countries to sow competition.
“The pandemic has sparked international enthusiasm in the DIY sector, and we believe this trend will be long-lasting. Consumers around the world are investing more and more in their homes and are now turning to online channels for selection, price and, most importantly, advice. ManoMano is the industry leader on all three criteria, and no company in Europe is better equipped to help DIY enthusiasts realize their visions“, estime Eric Jones, partner chez Dragoneer Investment Group.
Nothing like an inventory of figures to give an idea of the hyper-growth of ManoMano. In 2013, the platform offered 30,000 references in electricity, plumbing, hardware, door frames, interior and exterior furniture and even tools. It employed 9 people and had a turnover of 1 million euros. Eight years later, the company’s workforce has risen to 800 people and it allows 3,600 merchants to offer 10 million references. In 2020, 7 million customers were won over. Its growth reached more than 100% last year, with a turnover of 1.2 billion euros. Revenues from its Btob platform, ManoManoPro, launched in 2019 and dedicated to building professionals, even increased by 140% in 2020.
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More than 1,000 recruitments by the end of 2022
Another major objective of the fundraising is to position ManoMano as the reference point of contact for all European DIY / gardening professionals who wish to sell online. The two co-founders therefore hope to strengthen the BtoB offer, particularly in Spain and Italy initially, where this segment has only been available since the end of 2020. With the ambition to attract, as in France, at least 1 small craftsman out of 5.
“For its partner merchants, ManoMano will provide better access to European markets through the development of a European logistics network and associated customer service. To give them more means to increase their online business, the company intends to develop dedicated marketing and advertising services “, details the scale-up in its press release.
The money will also be used to invest more in technology, in order to improve the supply of services. ManoMano, which already relies on a community of “Manodvisors”, wishes to strengthen the advisory dimension for individuals and help set up projects from A to Z. Finally, fundraising should help increase brand awareness. in Europe, thanks to a media investment strategy. The objective: that two Europeans out of three people can get to know the company, as is the case today in France according to her.
To achieve these ambitious goals, ManoMano plans to recruit 1,000 new talent by the end of 2022, which would more than double the size of the company.
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