ManoMano, a French startup, has raised more cash in a new funding round, reports said. About €125 million ($139 million USD) was secured for the company’s eCommerce platform of home improvement products and services. Temasek led the funding round, with Bpifrance, Eurazeo, General Atlantic, Piton Capital and Kismet Holdings also participating in this latest funding cycle.
ManoMano previously raised $125 million in April of last year. The company has secured $344 million in total since 2014.
The company increased its market value by half in 2019, obtaining a gross merchandise value of $666 million. The U.K., Germany Italy and Spain now comprise one-third of the company’s sales market, with France still where most of its business occurs. It plans to bring on 200 more employees in Barcelona and Bordeaux.
ManoMano’s eCommerce platform stands apart from rivals’ online sites in a significant way: It engages with third-party retailers directly through the Mano Fulfillment service, a logistical delivery arm.
The company has also established a robust online community of experts and enthusiasts to recreate, as closely as possible, the brick-and-mortar experience of shopping at a traditional store. “Manodvisors” are available for customers to interact with at any time on the ManoMano platform. The company noted that its consumers had 1 million conversations with Manodvisors in 2019.
ManoMano also hopes to expand beyond amateur DIY enthusiasts with iManoMano Pro, a new service launching in France that already has 10 percent of the company’s sales.
It looks to benefit from a healthier business environment in 2020 as well — as PYMNTS reported, the home improvement market improved in Q4 of 2019. The repair and remodeling market had been declining in the last year, but shows signs of a rebound.
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