ManoMano closes a 355 million loan and becomes a unicorn

With the completion of a $ 355 million Series F funding round, ManoMano, a DIY, Gardening and Home Furnishing e-commerce, achieves a $ 2.6 billion valuation and unicorn status.

This was announced by a note from the company that, it says, "will double its workforce by hiring 1000 new employees by the end of 2022".

The round was led by a new investor, Dragoneer Investment Group, with a large holding of existing investors Temasek, General Atlantic, Eurazeo, Bpifrance, through its Large Venture funds, Aglaé Ventures, Kismet Holdings, and Armat Group.

The funds obtained will be exploited to "continue the international expansion" with the aim of "accelerating the growth of the B2B market in Italy and Spain with the ManoManoPro platform", continuing its "technological innovation" focused on improving the experience of customers and sellers and develop its European logistics network through ManoFulfillment.

European expansion and technological innovation are at the center of the growth strategy of the company, which is entering a European market of 400 billion euros, which however is still lagging behind on the online standstill "at 11% (in particular at 7 % in Italy) "of penetration, and achieved growth of + 100% and 1.2 billion euros in turnover in 2020.

"With this new funding round, we want to confirm our position as the undisputed European leader in our online market segment. Our goal is to become the first platform for all DIY, gardening and home improvement projects by offering first-rate experience and advice to our European clients, "said Philippe de Chanville and Christian Raisson, co-founders and co-CEOs of ManoMano.

With $ 725 million raised in funding rounds in the 8 years since its inception by Philippe de Chanville and Christian Raisson, the scale-up has achieved a $ 2.6 billion valuation and unicorn status.

"We also aim to be the preferred partner for our European sellers looking to grow their online business," added the two co-founders.

Italy has been one of the priority markets for the company since its inception in 2015 and is facing a phase of consolidation after having earned a turnover of 130 million euros last year, supported by the launch, also in 2020, of its platform dedicated to home professionals, ManoManoPro, and the inauguration of ManoFulfillment, the company's first logistics center in Italy (Cremona).

In Italy, in 2020 alone, the online interest on the part of consumers in the macro-category "furniture and garden" reached a growth of + 190.5%.

The company has also announced an agreement with ICE Paris, an organization for the promotion abroad and the internationalization of Italian companies, which provides for the development of a showcase of Made in Italy companies only on the French platform (ManoMano.fr) , which will include 130 Italian companies from the Home Design, Plumbing and Heating, Garden, Tools and Electrical Material sectors.

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