Mano Mano, French e-commerce specialist in home furnishings, DIY and gardening in Europe, announces the closure of a new 125 million euro financing round led by Temasek, a Singapore fund, accompanied by the Morgan Stanley group. Alongside the Singapore fund there are other presences, such as the set of equity funds General Atlantic, Eurazeo, Piton Capital, Bpifrance, Partech, Aglaé Ventures and Crédit Mutuel Capital Privé and the new shareholder Kismet Holdings.
The new capital will thus allow the scale-up to further consolidate its presence in the European market, increasing both the offer of services for its customers and for its partner sellers. Compared to the last 110 million financing round last April, a 50% growth was recorded, generating a global turnover of 620 million.
Present on the Italian market since 2015, second in terms of business volume, it closes with a 2019% increase in 77 turnover, equal to 65 million euros, to which are added another 18 million generated by Italian sellers towards other European markets. To support this pace of growth, ManoMano has hired 200 new collaborators in the last year, for a total of 420 employees, which it intends to increase also in 2020 by opening another 200 positions.
Another objective is to improve the consultancy service for the purchase, thanks to the community of Manodvisors, a set of experts and enthusiasts to whom consumers can turn to ask for advice in terms of product choice and for the pre-sale phase.
The commitment is confirmed by the logistics service Fullfillment hand, launched in 2018 in France and in 2019 in Spain, which makes it possible to guarantee an even more complete offer for both private customers and traders. The new loan will make it possible to develop this service also in Italy and in the other markets where it is present.
According to when declared by Philippe de Chanville and Christian Raisson, co-founders of ManoMano, the goal is to revolutionize the standards of the DIY, gardening and home furnishing market. To do that, they'll have to act fast given the stiff competition in e-commerce.
