ManoMano raises $139 million for its home improvement e-commerce platform – TechCrunch
French startup ManoMano is elevating one other mega spherical of funding. The firm operates an e-commerce web site for DIY, home improvement and gardening merchandise. This time, ManoMano is elevating $139 million (€125 million) with Temasek main the spherical.
General Atlantic, Eurazeo, Piton Capital, Bpifrance and Kismet Holdings are additionally taking part. The firm introduced one other important funding spherical again in April 2019. At the time, ManoMano raised $125 million (€110 million). Overall, ManoMano has raised $344 million (€310 million) over the previous six years.
In 2019 alone, the corporate grew by 50% with $666 million (€600 million) in gross merchandise worth. While the corporate remains to be largely energetic in France, its different markets (Spain, Italy, Germany and the U.Okay.) now symbolize a 3rd of gross sales figures.
ManoMano is betting on three completely different pillars to distinguish its e-commerce platform from different, extra generalist platforms. First, the corporate works immediately with third-party retailers and maintain logistics as a part of the Mano Fulfillment service. Given that the marketplace focuses on a distinct segment, ManoMano may beat rivals who even have a success service.
Second, ManoMano has constructed a group of consultants and fans to recreate the expertise you’d get once you go to a retailer. At any time, you can begin a dialog with Manodvisors. In 2019, clients had 1 million conversations with Manodvisors. Anybody can grow to be a licensed skilled and get some income from the startup.
Third, ManoMano needs to develop past hobbyists with ManoMano Pro. While this service is simply getting began, it already represents 10% of the corporate’s gross sales in France. Obviously, professionals may result in the next common basket measurement.
With right now’s funding spherical, the corporate plans to recruit 200 individuals in Barcelona and Bordeaux.