The French e-commerce start-up ManoMano recently took part in a funding round that allowed it to
raise money for an expansion project. The platform focusses on DIY, home
improvement and gardening products and it can be accessed in 6 European
countries.
Thanks to a Series F funding round, the firm was able to
raise $355 million and it reached a valuation of $2.6 billion. The event was
led by Dragoneer Investment Group. Temasek,
General Atlantic, Eurazeo, Bpifrance’s Large Venture fund, Aglaé Ventures,
Kismet Holdings and Armat Group also participated.
The online shopping platform has products available for
hobbyists, such as sales of home improvement and gardening items. The
firm plans to invest more heavily on its offerings and to build a better
logistics infrastructure. Nonetheless, the company does not have its own
warehouse, nor does it own any inventory. To remedy this situation, it plans to
recruit 1,000 people over the next 18 months. Most of them will be related to
the tech sector.
To ensure that its customers benefit from a good service, ManoMano
has partnered with experts, so that they can advise clients whenever they need
some tips, which is a great strategy. It is expected that recommendations and
advice will be key to gain market shares. Now, the company has the resources to
innovate on this front.
ManoMano focusses on home improvement products
Comments
Post a Comment