ManoMano, a European online marketplace for DIY, home improvement and gardening products, has announced the completion of its €125 million Series E fundraising.The round was led by Temasek, a global investment company headquartered in Singapore, with broad participation from General Atlantic, Eurazeo, Piton Capital and Bpifrance (through their Large Venture fund), and Kismet Holdings.
The new fundraising round increases the total funds raised over the past six years to 310 million euros. This will allow ManoMano to further deliver on its growth strategy, with the aim of becoming the European market leader in the DIY, home improvement and gardening space. The funds will be used to continue the company's international expansion, and continue its tradition of customer-centric innovation with services like Mano Fulfilment, its category-specific logistics service, and Manodvisors, its community of experts and enthusiasts that support the company's customers with their project and purchase decisions.
“We are reimagining the standards of specialised DIY, home improvement and gardening at a European scale. We have to move very fast to beat traditional players and e-commerce giants," said Philippe de Chanville and Christian Raisson, co-founders of ManoMano. "To allow each of our markets to follow the success of our French business, it is essential that we adapt to each European market, by creating the best local offer in each country, building active communities and developing innovative services.”
2019 was another successful year for ManoMano in which the company grew well in excess of 50%, and for the first time exceeded 600 million euros in sales with international markets (namely Spain, Italy, Germany and the UK) already contributing more than a third of sales figures. Growth was further accelerated by the launch of ManoManoPro in March 2019, which already contributes to 10% of sales in France.
The UK platform plays a major part in ManoMano’s growth strategy, going from slowest to fastest growing market in the past twelve months with a growth rate of 125%. Sales in the UK reached €32M in 2019.