French startup ManoMano is raising $139 million of funding with Temasek leading the round. Last April 2019, the company has announced a significant funding round and was able to raise $125 million (€110 million) in series D funding round with investors Eurazeo Growth, Aglae Ventures, and Bpifrance. The 2019 round aims the company to develop its offering for professionals and seller experience as well as recruit high profile tech talent and continue its European conquest, especially in the UK market.
In the past six years, ManoMano has raised a total amount of $344 million (€310 million).
ManoMano is a European marketplace and is one of the fastest-growing e-commerce platforms which is specialized in DIY products, home improvements, and gardening supplies. It was launched in France and it is currently operating in Belgium, Italy, Spain, Germany, and in the United Kingdom.
Last 2019, the company had increased by 50% with $666 million (€600 million) in gross merchandise value. ManoMano has also confirmed its company’s ambition of achieving €1 billion in sales by 2020.
ManoMano is speculating on three different pillars to differentiate its e-commerce platform from other, more generalist platforms.
First, the company works directly with external retailers and takes care of logistics as part of the ManoMano Fulfillment service. Since the market is focused on a niche, ManoMano could outrun other competitors.
Second, ManoMano has established a community of experts and enthusiasts to recreate the experience they would get when they go to a store. At any time, customers can start a conversation with Manodvisors, a virtual assistant that can communicate with users. Anyone can become a certified expert and earn some income from the startup.
Third, ManoMano would love to expand beyond hobbyists with ManoMano Pro. While this service has just begun, it already accounts for 10% of the company’s sales in France. Obviously, professionals could lead to higher average basket size.
With today’s financing round, the company plans to recruit 200 people in Barcelona and Bordeaux.