DIY retailer ManoMano raises €60m in funding to support European growth plan
French online DIY marketplace ManoMano has secured €60m in Series C funding, in order to strengthen its presence across Europe.
Led by growth equity firm General Atlantic, the round also saw participation from existing investors Piton Capital, Partech Ventures and Bpifrance.
Through the funding, ManoMano intends to fast-track growth by continuing to drive innovation and product development, as well as expanding market presence.
ManoMano co-founders Philippe de Chanville and Christian Raisson said: “We are excited to partner with General Atlantic and to draw upon its online marketplace expertise and track record of working with innovative digital leaders as we continue on our path to becoming the leader for DIY and gardening products online, and maintain our strong growth rate.”
Founded in 2013, the company operates in France, Spain, Italy, Germany, Belgium and the UK, allowing customers to directly buy products online from its network of merchants.
As part of its growth strategy, the company is planning to invest in brand marketing activities to target greater audience in all its markets, as well as increase its DIY products and services for its clients.
It also intends to enable sellers and partners to digitise their products through investments in new commercial and logistics services.
In addition, the company is looking to hire additional personnel to strengthen its IT and data teams, as well as grow the business development team in the UK and Germany.