ManoMano

French startup ManoMano, an online marketplace for DIY, home improvement, and gardening products, raised US$ 355 million in a Series F funding round on 5 July 2021. With funding, the valuation of the company has reached US$ 2.6 billion.

Investors: The funding round was led by Dragoneer Investment Group with participation from Temasek, General Atlantic, Eurazeo, Bpifrance’s Large Venture fund, Aglaé Ventures, Kismet Holdings and Armat Group.

Purpose of the funding: The company wishes to develop its activities in the U.K. and Germany, which are Europe’s two biggest markets for home improvement and gardening. ManoMano will also invest more heavily in its products and build a better logistics infrastructure.

About ManoMano

ManoMano

Founded in 2013 by Christian Raisson and Philippe de Chanville, ManoMano is a community of home and DIY lovers that enables them to exchange tips and advice on their DIY or gardening projects. In addition to this expert advice, ManoMano puts you in touch with a helping hand who will help you achieve your DIY projects. It sells home improvement and gardening items mostly from brick-and-mortar stores.

The company also operates an e-commerce platform focused on DIY, home improvement and gardening products which is available in six European countries – France, Spain, Italy, Belgium, Germany and the U.K.

ManoMano works with advisors (Manodvisors) who can give expert advice whenever customers need some help. The company says that its customers have initiated 2.3 million conversations with advisors in 2020. It believes that recommendations and advice will be key to gain market shares.

The company sells its products to hobbyists and also targets the B2B market with ManoManoPro. For the logistics part, it works with third-party logistics companies. It neither has its own warehouses nor does it own any inventory. That’s why ManoMano is planning to recruit 1,000 people over the next 18 months in mostly tech profiles. The company claims to have 7 million clients.

What the CEO has to say: “We operate in Europe and we are the industry leader in online sales. In France in particular, the company has been profitable for a couple of years already. In 2020 alone, the company’s gross merchandise volume doubled to €1.2 billion.” — co-founder and co-CEO Philippe de Chanville.

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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