ManoMano Secures €60M in Series C Funding
ManoMano, a leading European online marketplace for DIY and gardening products, has announced that it has raised €60 million in Series C funding led by General Atlantic, a leading global growth equity firm. Existing investors Piton Capital, Partech Ventures, and Bpifrance also participated in the fundraising round. This latest round of funding will help ManoMano accelerate growth by continuing to drive innovation and product development and reinforcing its presence across Europe.
Founded in 2013 by DIY enthusiasts and former venture capitalists Philippe de Chanville and Christian Raisson, ManoMano is a Paris-based online retailer for DIY and gardening products operating in France, Spain, Italy, Germany, Belgium and the UK. With over 1.9 million customers, the company combines a user-centric ethos with a data-led approach, allowing customers to buy DIY and gardening products online directly from its network of merchants at affordable prices. It has also built an online community where DIY enthusiasts can get advice and support for their projects.
“ManoMano is the leading online DIY and gardening retailer in France and has a growing presence in a number of other markets in Europe. The move to online in this market has begun to accelerate in recent years and we believe that more than half of the global DIY market will be fully digital by 2025. We are firmly committed to leading this transition,” said Philippe de Chanville and Christian Raisson, Co-Founders of ManoMano. “Our latest funding round, led by General Atlantic, and the growth we have achieved so far, are a testament to the success of our strategy. We are excited to partner with General Atlantic and to draw upon its online marketplace expertise and track record of working with innovative digital leaders as we continue on our path to become the leader for DIY and gardening products online, and maintain our strong growth rate.”
“We believe the DIY and gardening category today has low online penetration despite the advantages over traditional retail, including a wider product offering and the ability to search and filter products and drill into technical information,” said Chris Caulkin, Principal at General Atlantic. “ManoMano has built a strong reputation with customers and suppliers by being a leader in innovation and being consistently competitive on price. We look forward to working with Philippe, Christian, and the entire ManoMano team to further expand the company’s offering and international footprint.”
Drawing from 37 years of experience investing in over 250 global growth companies, General Atlantic partners with entrepreneurs and management teams who are building leading, high-growth businesses. The firm has $21 billion assets under management as of June 30, 2017. General Atlantic focuses on investments across five sectors, including Internet & Technology, Financial Services, Business Services, Retail & Consumer, and Healthcare, with support from the firm’s global team of experts.
General Atlantic has deep expertise partnering with leading online marketplaces and e-commerce retailers and is currently invested in industry leaders including Grupo Axo, House of Anita Dongre, Tory Burch, and Zimmermann.
As part of the investment, Gabriel Caillaux, Managing Director and Co-Head of EMEA at General Atlantic, will join ManoMano’s board of directors. Chris Caulkin, Principal at General Atlantic, will join the board as an observer.
ManoMano is the first online marketplace specialised in DIY & Gardening. Philippe de Chanville and Christian Raisson launched the site in 2013 to make DIY easy and affordable for all by bringing together the largest DIY offering online. ManoMano now operates in 6 countries across Europe with over 2 million referenced products and 900 partner sellers.
Source: General Atlantic press release