Frenchman ManoMano becomes unicorn after record fundraiser

Frenchman ManoMano becomes unicorn after record fundraiser
Frenchman ManoMano becomes unicorn after record fundraiser

The online DIY specialist has announced a fundraising of $ 355 million to reach an impressive valuation of $ 2.6 billion.

ManoMano wants to hit hard and gives it the means! The leader in online DIY tools on Tuesday announced a record fundraising of $ 355 million. After Ledger, the startup in turn becomes a unicorn (unlisted company valued at more than $ 1 billion) and even sees double since its valuation now reaches $ 2.65 billion.

For this, a new investor, the American Dragoneer Investment Group, entered the round while the previous ones (Eurazeo and Bpifrance) also put their hands in their pockets. “These new funds will allow the scale-up to continue its European expansion, in particular in Germany and the United Kingdom” indicates the group in a press release which also wants to “strengthen its BtoB offer in Spain and Italy” and “consolidate its technological innovations for its customers and partners “.

Recruit a thousand people

“To achieve these objectives, ManoMano plans to double the size of its teams by recruiting 1,000 new talents by the end of 2022” underlines the press release.

In total, the French company will have raised $ 725 million in 8 years.

“The pandemic has aroused international enthusiasm in the DIY sector, and we believe that this trend will be sustainable” rejoice Philippe de Chanville and Christian Raisson, founders and bosses of ManoMano.

The figures for the online platform are also impressive: more than 50 million unique visitors per month, 1.2 billion euros in business volume in 2020 with growth of + 100%. “Our activity is profitable in France for the second consecutive year and we were also profitable at European level for the first time during the peak of sales of 2020” underline the two bosses.

Thomas leroy BFM Business journalist

Source

Frenchman ManoMano unicorn record fundraiser

 
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