French Ankorstore platform raises $102 million to accelerate international expansion

Foreign media reported that French startup Ankorstore has received $102 million in Series B financing (84 million euros) to expand into international markets.

Tiger Global and Bain Capital Ventures led the round, with participation from existing investors Index Ventures, GFC, Alven and Aglaé. This is a significant new round, as the company raised €25 million just a few months ago .

The company plans to use the funds to expand its base of 5,000 brands and 50,000 independent retailers in Europe and support them through reopening.

Founded in 2019 by former Etsy executives and serial entrepreneurs Nicolas Cohen, Nicolas D'Audiffret, Mathieu Alengrin and Pierre-Louis Lacoste , Ankorstore is reinventing an independent retail platform .

It is reported that Ankorstore is building a wholesale marketplace for independent store owners , which sellers can use to build their own stores or brands . On the platform, there are some very Instagrammable stores with a variety of products, such as home goods, maple syrup, candles, hair bands, bath salts and stationery.

There is no need to browse to discover products on the Ankorstore platform , store owners are able to find and stock a variety of brands with minimal cost and risk.  

Ankorstore is now the face of many of Europe’s most sought-after brands and a partner to store owners who strive to offer their customers new experiences and products.

Ankorstore 's growth did not stop during the pandemic . Despite the closure of half of Ankorstore retailers due to covid, the business has tripled in the first four months of 2021 .

While Europe has outlined plans to reopen retail, Ankorstore will continue to play a vital role for business owners, enabling them to restock in anticipation of the upcoming peak season. The platform’s sales in the UK tripled in the weeks following the government’s announcement of its reopening plans .  

There are currently 5,000 brands on Ankorstore and 50,000 stores that buy goods through the platform. With stores starting to reopen across Europe and tourism picking up again, the best may be around the corner .

Ankorstore is now present in 14 different markets. The company generates most of its revenue internationally, rather than in its home market of France. Co-founder Nicolas Cohen mentioned the UK, Germany, the Netherlands and Sweden as growth markets.

Going forward, Ankorstore 's target market is huge, as the company has already identified 800,000 independent stores in Europe that could potentially work with Ankorstore , and the success of other wholesale marketplaces such as Faire proves that this relatively new market remains largely untapped.

France

platform

Financing