ManoMano, the online marketplace for DIY, home improvement and gardening products, has announced it has achieved €125 million in Series E fundraising.
The latest fundraising round was led by Singapore-based Temasek, a global investment company, which joins Bpifrance (through its Large Venture fund), Eurazeo, General Atlantic, Kismet Holdings and Piton Capital from previous rounds.
ManoMano was launched in 2013 and has since raised €310m in funding to allow it to grow within its home market of Europe – ManoMano is headquartered in France – and internationally.
ManoMano’s aim is to become the European market leader in the DIY, home improvement and gardening space, having already launched in Germany, the UK, Spain and Italy. ManoMano Pro, a B2B initiative, was launched in March 2019.
ManoMano co-founders Philippe de Chanville and Christian Raisson, said:
“We are reimagining the standards of specialised DIY, home improvement and gardening at a European scale. We have to move very fast to beat traditional players and e-commerce giants.
“To allow each of our markets to follow the success of our French business, it is essential that we adapt to each European market, by creating the best local offer in each country, building active communities and developing innovative services,”
In April 2019, ManopMano raised €110m in funding and confirmed its intention to achieve €1bn in sales during 2020.
Turnover exceeded €600m in 2019, up from €424m in 2018m – a 70% on 2017’s figure of €250m. The etailer’s international markets of Spain, Italy Germany and the UK were responsible for more than a third of sales in 2019, allowing for the creation of 200 new jobs during the year, bring the total to 450.
ManoMano intends to create a further 200 roles across Europe in 2020
Source : Insight DIY Team and ManoMano