Online home improvement platform Manomano reaches billions in valuation

The French online retailer for do-it-yourself supplies Manomano applies after a completed Financing round now as a unicorn. A group of venture capitalists have invested a total of 355 million US dollars (300 million euros), Manomano announced on Tuesday. In addition, founders Philippe de Chanville and Christian Raisson brought in $ 725 million in the eight years since it was founded.

The startup is now valued at $ 2.6 billion, it said. From a billion dollars in market valuation one speaks commonly of a “unicorn”.

With the collected The DIY platform wants to grow venture capital, and around 1,000 new employees are to be hired by the end of 2022. The management expects growth opportunities in the German market in particular, as it is in direct competition here with DIY megastores with garden centers. “The German DIY market is the largest in all of Europe and offers huge potential for us. At the same time, we are aware that it is fiercely competitive and occupied by traditional brands, ”says Chanville and Raisson. dpa

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