Valuation reaches US$2.6 billion! French e-commerce platform ManoMano receives another US$355 million in financing

According to foreign media reports, French e-commerce platform ManoMano recently completed a US$355 million Series F financing round led by Dragoneer Investment Group.

Besides Dragoneer Investment Group, Temasek, General Atlantic, Eurazeo, Bpifrance’s large venture capital fund, Aglaé Ventures, Kismet Holdings and Armat Group also participated.

It is reported that as early as January 2020 , ManoMano received 125 million euros in its Series E financing . And, to date, it has raised a total of 725 million US dollars in funds.

ManoMano is an e-commerce platform focused on DIY, home improvement and gardening products. It has more than 50 million unique visitors per month on its platform and serves more than 7 million customers in Europe. It currently operates in six European countries. After today's financing , the company's valuation has reached $2.6 billion.

“We operate in Europe and we are the industry leader in online sales,” said co-founder and co-CEO Philippe de Chanville .

In France in particular, ManoMano has been profitable for several years. In 2020 alone, the company doubled its gross merchandise volume to €1.2 billion ($1.42 billion at today’s rates).

In addition to France, the startup is also active in Spain, Italy, Belgium, Germany and the U.K. With today’s funding, the company is also looking to expand in the U.K. and Germany, in particular — two of the largest home improvement and gardening markets in Europe .

ManoMano sells its products to amateurs and targets the B2B market with ManoManoPro . It already works well in France with very small teams (1 to 5 employees), and the company is expanding this product to Spain and Italy.

At the same time, ManoMano will also increase investment in its products and build better logistics infrastructure. "In terms of logistics, we work with third-party logistics companies . " said Christian Raisson, co-founder and co-CEO .

ManoMano does not have its own warehouses and does not hold any inventory. That is why ManoMano plans to recruit 1,000 people in the next 18 months, most of whom will be technical staff.

In addition, ManoMano will increase its media investment in Europe to build a strong and differentiated home improvement brand in all its countries .

ManoMano

France

Financing