The e-commerce platform benefited from the home improvement wave triggered by the pandemic.

ManoMano, the French startup that operates an e-commerce platform for home improvement products, has raised $355 million at a $2.6 billion valuation to further its growth ambitions in Europe and double its workforce. It also intends to develop its range of products for construction and renovation professionals. (FT)

The Series F round was led by US-based fund Dragoneer. Existing investors General Atlantic, Eurazeo, and French state-backed investment bank BPI also participated.

Back in January 2020, ManoMano collected €125M in its Series E round of funding. That round valued it at $637 million.

ManoMano

The platform does not carry any inventory of the products traded – instead, the sellers, which number about 3,500, directly transact with buyers in a so-called “marketplace” model. ManoMano gets a cut from all deals transacted on its platform.

Its logistics service, dubbed ManoMano Fulfilment, operates warehouses that store inventory for sellers before packaging and shipment.

ManoMano is active in France, the UK, Belgium, Germany, Italy, and Spain. While France accounts for about 60% of ManoMano’s sales, the UK has been its fastest-growing territory.

Pandemic a booster for ManoMano

“The digitalization of DIY was behind compared to other sectors before the pandemic but the acceleration we saw last year is here to stay,” said Philippe de Chanville, one of the co-founders, in an interview. “We want to build a European leader in the online DIY market.”

Chanville and Christian Raisson, both DIY enthusiasts, founded ManoMano in Paris in 2013.

“Our business is profitable in France for the second year in a row, and we were profitable globally for the first time during the sales peak of 2020,” the founders said in a statement. “It is based on these solid grounds that we have launched a new funding round to accelerate our investments in ManoMano’s international development and strategic directions.”

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