ManoMano raises $ 355 million to become a European leader in DIY

ManoMano raises $ 355 million to become a European leader in DIY
ManoMano raises $ 355 million to become a European leader in DIY

ManoMano, the online DIY and gardening specialist, raises $ 355 million. A Series F fundraiser that values ​​the French nugget at $ 2.6 billion and was led by Dragoneer Investment Group. With the participation of Temasek, General Atlantic, Eurazeo, Large Venture (Bpifrance), Aglaé Ventures, Kismet Holdings and Armat Group.

A little digitized sector
Launched in 2013, ManoMano’s marketplace now lists 10 million products in the DIY, gardening and home sectors. Its main competitors? The stores, which hold nearly 80 to 90% of this very little digitized market which amounts to 400 billion euros in Europe. But ManoMano intends to strengthen its activity to become a European giant. The young shoot highlights its diversified offer, which is not centered on a private label, its advice and its attractive prices.

To differentiate itself, ManoMano also relies on its Manodvisors, advisers recruited according to their expertise to answer questions from potential customers. Today, ManoManon lists 500 Manodvisors who are remunerated by the payment of a commission when a sale is made. “Between 10 to 15% of our business volume is converted through them”, assures Christian Raisson, co-founder and co-CEO of ManoMano.

Become a European leader
In 2020, ManoMano achieved 1.2 billion euros in sales, compared to 620 million euros in 2019. Beyond France, the nugget has established itself in Spain and Italy. Then, in the United Kingdom and in Germany in 2017. With this fundraising, ManoMano intends in particular to strengthen its presence on the British and German markets which are respectively “one and a half times and twice as big as France”, assure Christian Raisson.

“Today, the United Kingdom, Germany, Spain and Italy represent 40% of our turnover compared to 20% two years ago, adds Philippe de Chanville, co-founder and co-CEO of ManoMano, who expects each of these countries represent between 20 to 30% of our figure within three to four years “. With this fundraising, the young company clearly intends to strengthen its presence in these markets where it is already present and to make itself known by a greater number of potential users.

Strengthening of B2B activity
As for the question of whether Brexit has greatly affected their activity, Christian Raisson assures us that this was especially difficult for some merchants who have observed a loss of activity in the course of last year, but that it is almost caught up. This loss of activity was less for ManoMano who ensures that “75% of UK business is done with local merchants”. A local offer put forward by ManoMano on its other markets as well, since this sector has very few well-known global companies.

“The second development axis of this fundraising is the strengthening of professional activity in Spain and Italy where ManoMano Pro was launched in early 2020”, says Philippe de Chanville. ManoMano Pro is a catalog dedicated to building craftsmen, registered as such on the site, which includes tools, brands and prices for professionals. In France, the nugget prides itself on having one in five craftsmen registered on its platform.

The B2C and B2B markets each weigh 200 billion euros in Europe. If ManoMano launched into B2B late, the unicorn is confident and thinks it can progress much faster since this sector includes less competition. It also notes a stronger acceleration in its B2B activity (+ 140%) than in B2C (+ 100%) over the year 2020 compared to 2019.

ManoFulfillment, towards a European logistics network
Finally, ManoMano wishes to invest in the development of services for merchants and in particular in logistics. The unicorn launched its ManoFulfillment service two years ago in France and a few months ago in Spain and Italy. Ultimately, the start-up hopes to create “a European logistics network to streamline operations and improve quality and performance”, relate Christian Raisson. Le but : “that between 40 to 50% of our sales pass through our logistics tool within three years”.

To help it in its ambition, ManoMano, which has 800 employees, wants to create 1,000 additional jobs by 2022, half of which in Tech and the other half in sales.

 
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