ManoMano Succeeds in Raising 125 Million Euros
On the 28th January, 2020, ManoMano, the European leader for online DIY and gardening products and services, announced that they had successfully completed a 125 million euro Series E fundraising. Led by Temasek, and contributed to by General Atlantic, Eurazeo, Piton Capital, Bpifrance and Kismet Holdings, this new fundraising round means that the total funds raised over the past six years have increased to 311 million euros.
With these funds, ManoMano intends to continue the company's internal expansion, and continue its tradition of customer-centric innovation with services such as Mano Fulfilment, and Manodvisors. Said services allow the customer to become more involved with the service, having constant access to support from specialists and passionate individuals, personalizing the service and innovating the home improvement sector.
As well as creating a more personalized service, ManoMano understands the significance of adapting to each country in which it is operating, seeing this as a key factor when it comes to overcoming well-known traditional players. The two founders, Christian Raisson and Philippe de Chanville, commented that they will achieve this by 'creating the best local offer in each country, building active communities and developing innovative services'.
This Series E fundraising round comes after major success for the company in the previous year, with 2019 being a year of growth and milestones, with a first time excess of 600 million euros in sales in international markets, and a growth well in excess of 50%. ManoManoPro was also launched in March of the same year, an initiative that already contributes to 10% of sales in France. The funds raised will go to accelerate the companies growth, with the addition of 200 new recruits on top of the impressive staff number they have already achieved.
Learn more about this exciting development here