ManoMano raises £355 million for European expansion
ManoMano, the European marketplace specialising in online DIY, home improvement and gardening, has reached $2.6 billion in valuation following the completion of a $355 million Series F fundraising.
The round was led by new investor Dragoneer Investment Group, with participation from existing investors Temasek, General Atlantic, Eurazeo, Bpifrance, through its Large Venture funds, Aglaé Ventures, Kismet Holdings and Armat Group.
ManoMano will use the funds to continue its European expansion, particularly in the UK and Germany. Funds will also be dedicated to replicating the success of its B2B offering in Spain and Italy. In addition, ManoMano is planning to more than double the size of its current workforce by recruiting a further 1,000 people by the end of 2022.
Philippe de Chanville and Christian Raisson, co-founders and co-chief executives of ManoMano, said: “With this new round of funding, we wish to confirm our position as the undisputed European leader in our online vertical. Our goal is to become the first destination for all DIY, gardening and home improvement projects by offering a first-class experience and advice to our European customers. By giving access to a highly qualified DIY audience and a full range of category-specific services, we also aim to be the preferred partner for our European sellers who aim to grow their online business in our vertical.”
With over 50 million unique visitors per month across its platforms, the company serves over seven million customers throughout Europe. ManoMano said the UK has been its fastest growing market since the beginning of 2021 and in 2020 achieved growth of 240%
Raisson and de Chanville added: “With a potential market of €50 billion and the highest digital penetration in Europe, the UK is ManoMano’s growth engine for the future. As it has become our fastest growing country in 2021, we look forward to further expansions and opportunities. This new funding round will allow us to accelerate our development, particularly by strengthening our media investments and footprint in the UK to become the preferred partner for our customers and UK sellers.”
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